Schroders assets under management hit record high in Q1

LONDON Thu May 1, 2014 2:13am EDT

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LONDON May 1 (Reuters) - British fund manager Schroders said assets under management rose to a record 268 billion pounds ($452.53 billion) in the first quarter of 2014 after it took in new money across a range of products.

Those new wins - which totalled 3.8 billion pounds across multi-asset, equities and fixed income - meant the year had started well, Chief Executive Michael Dobson said, although uncertainty in financial markets meant retail investor demand could take a hit in the short term.

Pretax profit during the period, before tax and exceptional items, was 130.7 million pounds, up from 115 million pounds in the same period a year earlier, the company said in a statement on Thursday. ($1 = 0.5922 British Pounds) (Reporting by Simon Jessop; editing by Freya Berry)