Schroders says Q1 assets up 5 pct to 416.3 billion pounds

LONDON, April 27 (Reuters) - British fund manager Schroders said on Thursday that total assets under management and administration rose 5 percent in the three month to end-March to 416.3 billion pounds ($535.69 billion).

Funds managed within its asset management unit rose 4.5 percent to 361.9 billion pounds, it said in a newly shortened first-quarter trading update.

In December, Schroders (Frankfurt: 929969 - news) said it would no longer issue full results in its first and third quarters. ($1 = 0.7771 pounds) (Reporting by Simon Jessop, editing by Huw Jones)