Schroders PLC reported a record £343.8 billion ($460.5 billion) in assets under management as of June 30, up 5.8% from three months earlier and up 10.9% from 12 months earlier, said its half-year financial update released Thursday.
Institutional AUM was £203.6 billion as of June 30, up 7.2% from the first quarter and 16% from June 30, 2015. Institutional AUM accounts for 59.2% of total AUM.
The institutional business reported net outflows of £100 million in the second quarter and net inflows of £1.6 billion in the year-earlier quarter.
During the same periods, Schroders reported total net outflows of £2 billion and net inflows of £3.7 billion, respectively.
Profit before tax was £282.3 million for the six months ended June 30, compared to £290.3 million in the same period of 2015.
“There was heightened market volatility throughout the period, particularly toward the end of June, following the result of the referendum on the U.K.'s membership of the European Union,” said CEO Peter Harrison in a news release. “We expect the current market environment to persist and this may have an impact on investor demand. Our diversified business model continues to perform well and we are well placed to create value for our clients and our shareholders over the long term.”