LONDON (dpa-AFX) - Schroders plc (SDR.L) said first quarter profit before tax was 88.6 million pounds, lower than 97.3 million pounds a year ago.
Assets under management at the end of March were 183.2 billion pounds, compared to 31 December 2011's 171.3 billion pounds.
Asset Management net revenue for the quarter was 250.8 million pounds, down from 261.2 million pounds in the prior-year quarter.
In the short term, macro-economic uncertainties and volatility in financial markets make it hard to predict flows. Long term, Schroders continues to see a broad range of opportunities in its core business in Institutional and Intermediary, in addition to which it has a number of new products coming on stream later this year.
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