Schroders has announced that its assets under management (AUM) hit a record high of £419.6 billion at the end of the third quarter.
In the briefest of trading updates, which included just a single sentence of text, the fund group said AUM rose by 9% in the first nine months of the year.
Its asset management arm now runs £375.5 million, up from £346.4 million at the start of the year. This broke down as £247.4 million in institutional mandates, up from £226.3 million, with £128.1 million in retail, up from £120.1 million.
Meanwhile its wealth business’s AUM increased from £39.6 million to £44.1 million over the same period. Total assets under advice and management reached £430.2 million, up from £395.3 million at the start of the year.
‘We continued to generate growth in the business in the first nine months of the year, with assets under management and administration increasing 9% to £430 billion,’ was all the group said in the trading update.