British fund manager Schroders has registered a profit before tax and exceptional items of £305.7m for the first half ended 30 June 2015, a rise of 17% from £261.5m a year ago.
The firm's total assets under management (AuM) stood at £309.9bn, up 14% compared to £271.5bn at the end of June 2014. Net flows were positive across all channels and totaled £8.8bn compared to £4.8bn in H12014.
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Overall, the group reported net revenue of £806.2m, up 11% from £728.6m in the first half of 2014.
Wealth Management
Schroders' wealth business has reported net revenue of £105.5m for the first half of 2015, a surge of 5% compared with £100.5m a year earlier.
For the six months ended 30 June 2015, the division's profit before tax and exceptional items was £30m, a rise of 14% from £26.3m reported during the same period last year.
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By GlobalDataNet inflows in wealth were £0.4bn. The assets under management of the wealth business at the end of June 2015 stood at £32.0bn compared to £30.7bn a year ago.
Asset Management
Net revenue at Schroders' asset management division increased 12% to £694.3m for the six months ended 30 June 2015 from £621.0m a year ago including performance fees of £5.9m.
The group's asset management arm made profit before tax and exceptional items of £271m, a 15% increase from £235.1m at the same point in 2014.
Assets under management at the unit reached £277.9bn for the six months to 30 June 2015.
For the first half of 2015, assets under management in Institutional were £175.5bn, while assets under management in Intermediary were £102.4bn.
The division generated net inflows of £3.6bn in Institutional, while net inflows in intermediary were £4.8bn.
Schroders CEO Michael Dobson said: "We generated £8.8 billion of net new business in the first half of 2015 despite heightened volatility in markets towards the end of the period. Net inflows were particularly strong in fixed income and, regionally, in Asia Pacific and Continental Europe. Profit before tax and exceptional items was up 17 per cent and the interim dividend is increased by 21 per cent."
