Schroders PLC (LON:SDR) saw funds under management drop in its latest quarter as the recent falls in equity markets took a toll.
The wealth manager still recorded a £30.4bn inflow of new money in the three months to March, helped by the final clients coming on board from the Scottish Widows mandate it won from Standard Life Aberdeen.
Total assets under management were £470.5bn, down from £500.2bn at the end of December.
Peter Harrison, chief executive, said: "During this period of extreme market volatility and social and economic uncertainty, the business has proven to be resilient.”
Schroders added it would not be seeking any government assistance globally, nor will it furlough any employees or enact any related redundancy programmes due to the impact of coronavirus.
Directors are also to donate the share incentive awards and 25% of their salaries for three months to charity.