Schroders first-quarter assets up 5%

Fund manager Schroders reported a 5% jump in assets under management and administration for the first quarter.

In the three months to the end of March, AUMA rose to £416.3bn, while assets under management were up 4.5% to £361.9bn.

The group noted that its acquisition of the wealth management business of C. Hoare & Co., which completed in February, brought around 1,800 clients and £2.5bn of AUM.

In addition, Schroders expanded its capabilities within Private Assets, with the announcement of the acquisition of Adveq, a Swiss-based high-quality specialist private equity solutions business.

The deal is expected to complete in the second half of this year, subject to regulatory approvals.