British fund manager Schroders has posted a pre-tax profit of £760.2m for the year ended December 2017, a surge of 23% compared to £618.1m in the previous year.

The group’s profit before tax and exceptional items was £800.3m, a 24% jump from £644.7m a year ago.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The firm’s assets under management and administration were £447bn at the end of December 2017, up 13% from £395.3bn in 2016. Net inflows increased to £9.6bn from £1.1bn last year.

Wealth Management

Schroders’ wealth business reported net income of £273.3m for the year ended December 2017, up 22% from £224m reported a year ago.

The unit’s profit before tax and exceptional items soared 36% to £90.3m from £66.4m last year, while profit before tax increased 20% year-on-year to £67.4m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Assets under management at the wealth business were £45.9bn as at 31 December 2017, versus £39.6bn in 2016.

Asset Management                  

Schroders’ asset management arm has posted net income of £1.75bn for the year ended December 2017, a rise of 14% from £1.53bn last year.

Compared to the previous year, the division’s profit before tax and exceptional items increased 23% to £705.9m while profit before tax surged 24% to £688.7m. The business generated £7.6bn of net inflows in 2017.

Schroders group CEO Peter Harrison said: “Schroders has again delivered strong results in 2017, with our diversified business model and client-centric approach generating growth across the Group. Underlying organic growth and selective acquisitions combined with rigorous cost discipline led to a 24% increase in pre-exceptional profit. Assets under management and administration rose to a new high of £447.0 billion.

Focusing on the longer term, we have continued to see good progress in a number of key strategic areas, with the expansion of our investment capabilities in private assets, an improvement in Wealth Management and strong underlying momentum in North America.”