Schroders, the London-listed investment group and private bank, said its private banking net revenue increased to £30.1 million (around $49.7 million) in the first three months of 2011 from £24.3 million a year earlier.

Profit before tax at this segment of Schroders stood at £6.7 million (Q1 2010: £1.3 million).  Net inflows of £100 million took funds under management to £16.4 billion, up from £16.2 billion at the end of last year.

For the group as a whole, it made a pre-tax profit of £103.8 million, up from £93.2 million, a year earlier. Total assets under management stood at £201.4 billion, up form £196.7 billion at the end of December 2010.