GLOBAL - Schroder Investment Management saw profits from its core asset management division more than double in the year ending September 30, up 67% to £46.1m.
Reporting its third quarter results, Schroders revealed profits had increased from £27.5m in the same period last year.
Asset management revenues for Q3 were £141.2m, compared to £103.9m in Q3 2004, while asset management costs also rose to £95.1m from £76.4m in the corresponding quarter last year.
Net business outflows during the quarter were £2.1bn, with £1.2bn being institutional money.
Most new institutional business came in the form of European equities and property against net outflows in UK balanced mandates and Asia-pacific equities.
Schroders said it expected to see opportunities for institutional, in both fixed income and equities, in the medium term.
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