(Alliance News) - Schroders PLC on Tuesday reported a substantial rise in its assets under management over the first nine months of 2019.
The FTSE 100 fund manager said as at September 30, total assets under management was GBP450.8 billion, up 11% from GBP407.2 billion at the start of January.
Schroder's core Asset Management unit had GBP398.8 million in funds under management at the end of September, up 9.7% from GBP363.5 billion as at January 1.
Within the Asset Management unit, Institutional assets increased by 10% to GBP268.8 billion, and Intermediary assets by 7.2% to GBP130.0 billion.
Meanwhile the Wealth Management unit's assets stood at GBP52.0 billion, up 18% from GBP43.7 billion.
Shares in Schroders were up 0.9% at 2,956.00 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Schroders (SDR)