Assets under management at Schroders totaled £444.4 billion ($554.8 billion) as of June 30, up 9.1% from six months earlier, the firm disclosed in a half-year financial update on Thursday.
Net outflows totaled £1.2 billion for the six months ended June 30 vs. net inflows of £1.2 billion for the six months ended June 30, 2018.
The London-based firm's net income for the first half of 2019 was £1.03 billion, down 4.9% from the first half of 2018.
Profit before tax was £319.3 million in the six months ended June 30, down 14% from the same period last year when it reached £371.1 million.
AUM in Schroders' asset management business reached £393.7 billion as of June 30, an 8.3% increase from six months earlier, driven by a £31.3 billion gain from market returns and a £1 billion gain from the acquisition of Blue Asset Management, partially offset by net outflows of £2.1 billion.
Institutional AUM totaled £264 billion as of June 30, up 9% from £242.3 billion six months earlier. The gain was led by £20.4 billion in market returns and the £1 billion from other acquisitions, partially offset by net outflows of £300 million.
"We have continued to follow our strategy of selectively investing in key areas to drive the long-term growth of the business through a combination of inorganic investments and organic hiring," group CEO Peter Harrison said in a news release.