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Schroders pretax profit up 16 per cent to 404 mln stg

Reuters - UK Focus

LONDON, Nov 6 (Reuters) - Money manager Schroders Plc (LSE: SDR.L - news) said on Thursday that its profit before tax and exceptional items was up 16 percent to 404.4 million pounds ($646.55 million) in the nine months to end of September.

The fund house recorded a net inflow of 7 billion pounds during the period, taking its assets under management to £276.2 billion pounds at the end of September from 256.7 billion pounds during the same period last year.

Schroders also said in a statement that it has a significant pipeline of new business won which has not yet been funded. ($1 = 0.6255 British Pounds) (Reporting by Nishant Kumar; Editing by Carolyn Cohn)