UK - Schroder Investment Management has slowed its client losses with outflows of £2.3bn from schemes and other institutions during the first half of this year.
Schroders has been haemorrhaging clients due to a combination of poor performance and a shift away from balanced management.
However, improved performance and consultant upgrades have helped the firm to stem its client losses. The first half result represents a £5bn improvement on the £7.3bn lost during the same period last year.
Schroders said its UK fixed income business has been particularly strong, benefiting as schemes raised their bond weightings. Earlier this year, the firm won a £280m global bonds brief from the Yorkshire Electricity Group Pension scheme.
Additionally, Schroders has seen its profits drop by over a third, from £74.2m in the first half of 2001 to £46.8m this year. The firm blamed the fall on poor equity markets and restructuring costs.
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