Reports
First-Half 2017 Profits, Assets Under Management Rise At Schroders
The UK-listed wealth and investment house reported H1 figures for 2017.
Schroders today
logged a profit before tax and exceptional items of £361.5
million ($474.9 million) for the first six months of this year, a
year-on-year rise of 23 per cent.
The firm logged net inflows in the six-month period to end-June
this year of £800 million, it said in a statement today.
Assets under management and administration stood at £418.2
billion on 30 June, from £343.8 billion 12 months’
previously.
The acquisition of the wealth management business of C.Hoare &
Co. completed in February and brought around 1,800 clients
representing £2.5 billion of assets under management.
“Underlying progress in all regions was encouraging and we are
building out our capabilities in private assets. We are confident
in our ability to continue identifying, and investing in, areas
of future growth,” Peter Harrison, group chief executive at
Schroders, said in a statement.
Wealth
Wealth Management net operating revenue increased 22 per cent to
£130.8 million (H1 2016: £107.1 million), including performance
fees of £0.6 million (H1 2016: £1.9 million).
Profit before tax and exceptional items was up 40 per cent to
£45.5 million (H1 2016: £32.4 million) and profit before tax rose
28 per cent to £36.4 million (H1 2016: £28.4 million).
There were net inflows of £600 million (H1 2016: outflows of £100
million) in the first half.
Assets under management and administration at the end of June
were £54.9 billion (30 June 2016: £33.8 billion).
The net operating revenue margin before performance fees was 62
basis points (FY 2016: 65 basis points).
