Schroders, one of the UK’s biggest fund managers, has said clients are yet to pull money from its funds in large numbers, despite the coronavirus fears sweeping the stock market. Chief executive Peter Harrison said he is hopeful that action from central banks will steady the economy.

Speaking to Financial News this morning as the company unveiled its 2019 results, Harrison said: “I was looking at the mutual fund flows through to last night, and in Asia and the US we have net inflows, while in Europe and the UK we have net outflows. The net out is slightly ahead of the net in, but it’s rounding errors rather than anything else.