Schroders Records £2B Outflows Fuelled By Brexit
Posted: Thu Jul 28, 2016 8:35 am
UK asset manager, Schroders, has been hit by the heaviest outflows from its funds since the height of the financial crisis, blaming last quarter’s withdrawals on the difficult market environment following the UK’s vote to leave the European Union.
Largest Outflows Since 2009
Schroders reported £2 billion ($2.6 billion) of net outflows in the three months to the end of June, its largestsince 2009, and nearly double the amount analysts had anticipated, according to figures released by the Financial Times.
Schroders chief executive Peter Harrison said, “There was heightened market volatility throughout the period, particularly towards the end of June, following the result ... (read more)