Assets under management at the British investment company slid from £309.9 billion to £294.8 billion during the third quarter, it announced on the London Stock Exchange.

London-listed Schroders saw its assets under management fall 5 per cent to £294.8 billion ($449.5 billion) over the three months to the end of September, compared to the previous quarter, amid weak investment performance.

Investments suffered a significant £14.6 billion loss over the quarter while net outflows totalled £500 million. Still, Schroders pushed its pre-tax profit up 18 per cent year-on-year to £148.6 million as its net revenue grew from £393.6 million to £395.3 million.

Since the beginning of the year, pre-tax profit was up 21 per cent at £438.9 million and assets under management were up 7 per cent. During this time, the wealth management division generated a pre-tax profit of £47.7 million versus £33.6 million in the first nine months of 2014, despite net inflows halving to £200 million.

“In the first nine months of the year profit before tax increased to £438.9 million and we generated £8.3 billion of net new business. These results reflect the resilience of our diversified business at a time of heightened market volatility,” said Michael Dobson, chief executive of Schroders.