Schroders doubles quarterly profit

9th Nov 2010 08:34

Profit rocketed at fund manager Schroders during the third quarter to more than twice the figure for last year thanks in part to net inflows of £5.4bn since the end of June.The company made £94.5m in the three months to 30 September compared with £43.6m a year ago. That takes nine-month profit to £282.7m from £79.9m in 2009.Total funds under management hit a new high of £181.5bn at the end of September as net inflows for the nine-months reached £21.5bn versus just £8.7bn this time last year.Net inflows have continued since the quarter end, the company said.