Schroders has reported a £2.2bn decline in net new business for the first quarter of 2026.
The firm’s assets under management (AUM) slid to £814bn from £824bn at the end of last year.
Schroders noted market turbulence in March due to geopolitical tensions ‘offset earlier positive flow momentum’, leading to a reversal of trends seen in January and February.
In terms of its main divisions, asset management AUM slipped to £599bn due to negative market movements and a £2.5bn outflow, while wealth management saw a £300m net inflow and finished the quarter with £120.7bn in assets.
Schroders Capital also booked a net inflow of £300m to reach £72.6bn of assets.
The update comes as work continues behind the scenes on Nuveen’s takeover of the asset manager, which is expected to close later this year.
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Richard Oldfield, group chief executive (pictured), said: “Our performance in the first quarter of 2026 reflected the shift in market conditions as the period progressed.
“In January and February, demand trends from late 2025 continued, with strong intermediary net flows into our public markets strategies, while group AUM was buoyed by strong markets.
“In March we saw a reversal of these trends. As tensions escalated in the Middle East, client sentiment shifted to a more risk-off stance amid heightened geopolitical uncertainty. We continue to focus on supporting clients as they navigate these conditions.”
