Your IndustryApr 26 2018

Schroders loses £3.1bn of advised assets

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Schroders loses £3.1bn of advised assets

Schroders has reported the assets it manages on behalf of advisers' clients fell by £3.1bn in the first quarter of the year.

The company managed £130.9bn of capital for intermediaries at the end of March, compared with £134bn at the start of January.

Such a reduction in assets can happen because advisers are withdrawing capital from the company’s products, or because market movements have reduced the value of the assets.

Assets managed on behalf of institutions were also down to £251bn at the end of March, compared with £255.8bn at the start of the year.

Total assets for the fund management business were £382bn at the end of March.

The wealth management business of Schroders also suffered a drop, with assets falling to £44bn during the period, compared with £45.9bn at the start of the year.

 David.Thorpe@ft.com