LONDON May 1 The chief executive of UK fund
manager Schroders said on Thursday that retail demand
for its mutual funds had been particularly strong in continental
Europe this year, helping it post record assets under
That demand, of around 1.7 billion pounds ($2.87 billion) in
net new money, was complemented by around 700 million pounds in
new money from clients in the UK and positive inflows in both
Asia and the United States, he said.
The bulk of the 2.8 billion pounds in new retail money went
into its equity funds, Michael Dobson told Reuters in an
Dobson said the company had enjoyed a particularly strong
performance in its wealth management unit, which saw revenues
jump 90 percent and profits rise 170 percent after the
integration of Cazenove Capital last July.
Looking ahead, however, Dobson said he was focused on
growing the business organically.
($1 = 0.5922 British Pounds)
(Reporting by Simon Jessop Editing by Chris Vellacott)