British fund manager Schroders has registered a profit before tax and exceptional items of £565.2m for the year ending 31 December 2014, a rise of 11% from £507.8m a year ago.
Overall, the group's assets under management (AuM) surged 14% to £300bn from £262.9bn in 2013.
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Wealth Management
Schroders' wealth unit has posted net revenue of £213.5m for 2014, a 42% jump compared with £150m the previous year.
The division's pre-tax profit and exceptional items reached to £61.7m, up 80% from £34.3m reported a year earlier. It generated net inflows in wealth of £0.5bn, versus net outflows £1.5bn in 2013.
Assets under management of the wealth arm stood at £31.1bn, versus £30.1bn a year ago.
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Net revenue at Schroders' asset management arm rose 5% to £1.3bn, from £1.24bn a year ago. Performance fees dipped to £34.2m from £80.2m a year ago.
The group's asset management arm posted a profit before tax profit and exceptional items of £499.3m, a rise of 7% from £468.6m in 2013.
Net new business increased to £24.3bn from £9.4bn in 2013. Net inflows of £13.3bn were recorded in the UK, £6bn in continental Europe and £5.3bn in Asia Pacific.
The unit registered net inflows of £16.9bn in multi-asset, £4.7bn in fixed income, and £4.5bn in equities.
Referring to the year 2014 as a record year for Schroders chief executive Michael Dobson said, "We believe our focus on building a diversified business across a broad range of investment strategies will continue to deliver value for clients and shareholders over the long term."
