Fund manager Schroders has seen a dip in pre-tax profits and inflows in the first three months of 2012, while also completing a strategic investment in Indian outfit Axis AMC.
Group profit before tax was £95.5m compared to the £103.8m in the first quarter of 2011. Net inflows were £1.6bn compared to the £3.1bn seen in the same period of last year. Assets under management (AUM) at the end of March were £199.6bn, up on the £187.3bn seen at the end of 2011.
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