The firm attracted £1.4bn of new money from institutional and £0.3bn from intermediary investors.
Despite this net new business was down on the same period last year, which saw inflows of £3.1bn
Inflows into the asset management business of £1.7bn far outweighed outflows of £0.1bn from the private banking arm, taking their respective AUM to £183.2bn and £16.4bn respectively by the end of March.
Both the asset management and private banking elements of the business posted a drop in pre-tax profit, which meant the group’s pre-tax profit fell from £103.8m in Q1 last year to £95.5m in the same period this year.
Investment returns across institutional, intermediary and private banking were positive, with asset management in particular showing strong gains, up £10.2bn.
Schroders said in the short term macro-economic uncertainties and volatility in financial markets made it hard to predict flows, but in the long term it continues to see a broad range of opportunities in its core business of institutional and intermediary investors.
The firm also said it had reached an agreement to acquire 25% of Axis AMC, the asset management subsidiary of Axis Bank in India.
The objective behind this is to work with Axis Bank to "build over time one of the leading asset management companies in India" and to distribute Axis AMC’s funds internationally.
