Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Schroders warns of short-lived intermediary flows recovery

Schroders warns of short-lived intermediary flows recovery

Schroders has said the recovery in intermediary flows may only be temporary as the positivity seen in recent weeks could be quickly wiped away by a fresh bout of economic gloom.

Speaking to shareholders, Schroders said its asset management division pulled in revenue of £246 million over the last quarter, versus £256.8 million during the same stretch in 2011.  Its profit before tax was £85.8 million, compared to £92.7 million in 2011's third quarter.

'We have had positive net flows in institutional and intermediary in each of the first three quarters of 2012, with small outflows in private banking,' Schroders told investors, before adding that it was unsure if the more positive tone in intermediary would be sustained given the 'uncertain' economic background.

The group's private bank, which recently saw Rupert Robinson (pictured), its UK private bank chief executive officer, depart and his role handed to Philip Mallinckrodt, was the only area to witness outflows during the period Schroders reported on.

Broadly, for the three months to 30 September, Schroders' net inflows were £2.6 billion, with £1.9 billion going into institutional and £0.8 billion into intermediary.  Net outflows of £0.1 billion were seen in private banking.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Play Henderson's Lofthouse on merger boost and political risk

Henderson's Lofthouse on merger boost and political risk

Ben Lofthouse talks through where he is finding income and what surprises await the global economy in the new year.

Read More
Your Business: Cover Star Club

Profile: 'a lot of the hard work is done' says Charles Stanley

Profile: 'a lot of the hard work is done' says Charles Stanley

We’ve turned a corner, and there is positive momentum behind Charles Stanley says Charles Stanley's private client head

Wealth Manager on Twitter