(Alliance News) - London-based asset manager Schroders PLC on Thursday reported a quarterly drop in assets under management.
In the company's third quarter to September 30, Schroders reported assets under management of GBP752.4 billion, down 2.7% from GBP773.4 billion in June, but up 5.0% year-on-year from GBP716.9 billion.
It noted that its Solutions funds fell by 8.9% in its third quarter to GBP205.5 billion from GBP225.7 million the quarter prior.
Shares in Schroders were down 0.1% to 377.89 pence each in London on Thursday morning.
By Sophie Rose; sophierose@alliancenews.com
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Schroders (SDR)