Schroders assets edge higher in third quarter

15th Oct 2018 13:46

(Sharecast News) - Schroders' assets under management and administration increased 1.3% over the first nine months of the year, edging up 0.8% in the third quarter.A pithy quarterly update from the FTSE 100 group revealed AuMA had increased to £453bn at the end of September.Intermediary assets were unmoved in the third quarter at £131.2bn, following the redemptions seen from the intermediary sales channel in the first half of the year.Wealth management assets remained almost unmoved since the half-year at £46.8bn, having enjoyed has seen strong client demand in the first half.However, institutional funds provided the growth in managed assets, rising 1.2% to £260.2bnFurthermore, assets under administration jumped 23% to £13.9bn, in the Benchmark Capital business where Schroders just provides administrative support.