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Tuesday, August 16, 2005|
UK Manager Eyes US Fund Market
High off the success of its U.K. mutual fund sales, London-based money manager Schroders Plc is considering selling mutual funds in the U.S., reports Bloomberg.
The firm has been shifting its focus from institutional investors to retail investors to realize higher management fees and capture more assets.
Chief executive officer Michael Dobson said that Schroders is looking overseas to continue its growth in the retail space, which for the first time contributed to half of the firm's revenues in the first half of this year.
Schroders is eyeing China, where it has a joint mutual fund business with Bank of Communications Ltd.
Bloomberg also reports that Schroders has 759 million pounds, or $1.37 billion, available for potential acquisitions.
"We believe we will find opportunities," Dobson told Bloomberg.
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