Schroders sees £2.9bn intermediary redemptions in 2016; warns of further flows volatility

Institutional flows remain strong

Schroders saw redemptions in the fourth quarter from both intermediary and institutional clients, but overall positive institutional flows over the year pushed total net sales for 2016 into positive territory.

In its full-year results for 2016, the firm revealed had attracted £1.1bn in net inflows over the 12 month period, thanks to continued demand from institutional clients which offset outflows from intermediary and wealth management clients. The firm blamed "macro uncertainty and volatile markets" for the drop in intermediary sales during the year, with total outflows from this channel standing at £2.9bn, mainly from equity products.  On the wealth management side, flows were affected by clients' preference for private assets and UK property after seeing limited market returns in previo...