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Schroders sees Q1 assets fall from record highs

·1-min read

LONDON, April 16 (Reuters) - Schroders reported net new business of 30.4 billion pounds on Thursday, largely thanks to an influx of assets from the Scottish Widows investment mandate, offsetting a fall in assets under management to 471 billion pounds ($587.81 billion).

"During this period of extreme market volatility and social and economic uncertainty, the business has proven to be resilient," Chief Executive Peter Harrison said in a statement.

Schroders posted record assets of more than 500 billion pounds in March.

The asset manager said it was not seeking government assistance in the wake of the COVID 19 pandemic and would not pursue redundancy programmes.

It said its April 30 annual shareholder meeting would proceed in London as scheduled, but no investors would be admitted to the meeting after its quorum of three employee shareholders had been met. ($1 = 0.8013 pounds) (Reporting by Sinead Cruise; Editing by Dhara Ranasinghe)