LONDON (ShareCast) - (Sharecast News) - Asset manager Schroders delivered a welcomed update to the market on Thursday, reporting £1.1bn in positive netflows in the first quarter.
The company said solid client demand drove flows into core solutions and Wealth Management, in addition to all four pillars in Schroders Capital (comprising private equity, private debt and credit alternatives, real estate and infrastructure).

This more than offset outflows from equities and multi-asset investments during the quarter.

However, £8.5bn outflows from joint ventures and associates meant that total assets under management fell to £758.4bn by 31 March, down from £778.7bn three months earlier.

"In a challenging external environment, we are actively managing the areas of our business we can control, taking action on costs while continuing to invest in key areas of strength," said chief executive Richard Oldfield.

"By simplifying, scaling and delivering effectively, we will return our business to profitable growth."

Shares were up 2.3% at 336p by mid-morning in London.

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