Reports

First-Half 2017 Profits, Assets Under Management Rise At Schroders

Tom Burroughes, Group Editor, London, 27 July 2017

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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).

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