But at the end of September total AUM was down at £182.2bn, compared to £196.7bn at the end of December last year.
This was despite net inflows of £5.1bn over nine months, and due to negative investment returns of £19.6bn over the period.
The group as a whole saw pre-tax profit up at £317.3m for the first nine months of the year, compared to £282.7m a year earlier, with asset management pre-tax profit contributing £295.8m to that figure.
Meanwhile, the group’s private banking arm saw pre-tax profit jump to £19m for the first three quarters of 2011, up from £10m last year.
In its interim management statement Schroders said: "Financial markets are likely to remain volatile with no sustained recovery in equities until we see some resolution to the uncertainties facing the eurozone.
"Until such a time, the environment in intermediary and private banking will continue to be difficult with investors reluctant to commit fund to risk assets, and opportunities in institutional will be held back although we expect to see a continuation of positive net flows from institutional clients."
