Schroders: Assets slide as volatile markets weigh on investor appetite
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Schroders revealed a slump in its managed assets today as investors fled the market amid sustained volatility over the summer.
In an update this morrning, Schroders said assets under management fell to £724.3bn at the end of September, down from £726.1bn at the end of June.
The firm’s asset management arm saw its assets fall from £515.7bn to £511.4bn in the three month period, while its wealth management division notched a tick upward from £102.6bn to £104.2bn.
The FTSE 100 money manager has been among a host of investment firms to feel the squeeze of volatile markets this year as rising interests rates and soaring inflation continue to weigh on investor demand.
At the half year mark in July, Schroders said it continued to grapple with “industry headwinds” as it notched a slide in assets under management but a boost in profits for the first six months of the year.
The London-listed investor said operating profits for the first six months of its year came in at £341.4m after a sharp fall to £316m in the second half of last year.