MARKET TALK: RBS Initiates Schroders At Buy

19th Jul 2010 13:30

1230 GMT [Dow Jones] Royal Bank of Scotland initiates Schroders (SDR.LN) at buy with a 1650p target. Says the UK and European retail asset management markets are surprisingly strong, and Schroders should be a key beneficiary. Says 58% of its retail funds-under-management are domiciled in the UK and Europe. Thinks investors are not only looking for returns - they are also seeking brand, performance history, size and a strong financial position in their asset manager. Says this is reflected in Schroders' strong flow data over the last three quarters. Expects this performance to continue over the next 12 months. Shares -0.1% at 1200p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 08:30 ET (12:30 GMT)