Schroders Profits Halved

Half year results from fund manager Schroders confirm the impact of plunging stock markets on fee based businesses throughout the securities industry. Underlying asset management profit was down by nearly half to 46.8 million (H1 2001 74.2 million), and profit

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Half year results from fund manager Schroders confirm the impact of plunging stock markets on fee-based businesses throughout the securities industry. Underlying asset management profit was down by nearly half to 46.8 million (H1 2001: 74.2 million), and profit before goodwill amortisation much the same at 25.9 million (H1 2001: 47.0 million). Funds under management fell to 102.7 billion at 30th June 2002 (31st December 2001: 110.4 billion).

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