Schroders PLC (LON:SDR), which is in talks with Lloyds Banking Group PLC (LON:LLOY) about a wealth management joint venture, on Monday posted a 0.7% rise in third-quarter assets under management (AuM).
Total AuM at the end September stood at £439.1bn, compared to £435.7bn on January 1, as a 1.7% increase in institutional assets offset a 1.4% decline in retail assets.
The asset management sector has seen a mixed performance from companies as Brexit uncertainty, concerns about rising US interest rates and global trade and political tensions weigh on investor sentiment.
FTSE 100 fund supermarket Hargreaves Lansdown PLC (LON:HL.) last week touched on the tough market conditions the asset management sector is facing as it reported a 3% rise in assets under administration (AuA) to £94.1bln in the first quarter to September 30, missing analysts’ expectations.
Asset manager Jupiter Fund Management Ltd (LON:JUP) posted a drop in AuM to £47.7bn in the third quarter to September 30 from £48.3bn the previous quarter due to larger-than-expected net outflows of £800mln.
Man Group PLC (LON:MEMG) saw funds under management edge up to US$114.1bln in the quarter ended September 30, from US$113.7bln at the end of the second quarter, as net inflows rose to US$400mln.
READ: Man Group PLC posts slight increase in Q3 funds under management, proposes new holding company
For Ashmore Group PLC (LON:ASHM, price volatility in emerging markets created a number of money-making opportunities, with AuM rising to US$76.4bn in the third quarter from US$73.9bn the same time last year, comprising net inflows of US$1.9bn and positive investment performance of US$0.3bn.
Last week, it emerged that Lloyds was in talks to merge its £13bn wealth management business into a new joint venture with Schroders.
“Discussions are ongoing and there can be no certainty that these discussions will lead to any formal arrangement being entered into,” Schroders said.
Shares in Schroders dropped 2.8% in afternoon trading.