British fund manager Schroders has registered a total profit before tax and exceptional items of £149.6m, up 14.4% compared to £130.7m a year ago.
The firm's total assets under management (AuM) stood at £319.5bn at the end of the first quarter.
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Wealth Management
The firm's wealth unit has posted net revenue of £52.2m, up 3.77% compared to net revenue of £50.3m posted in the corresponding quarter of 2014.
Profit before tax and exceptional items increased 12% to £14.9m, as against £13.3m a year earlier.
At the end of March, the division's assets under management stood at £32.6bn, while net inflows were £0.2bn.
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By GlobalDataAsset Management
Schroders' asset management arm has posted a net revenue of £348.5m for the first quarter, a rise of 13.8% from £306.2m in the prior year. This includes performance fees of £1.7m.
The unit's profit before tax and exceptional items was £133.7m, a 14% jump from £117m in the first quarter of 2014.
Net inflows reached £4.9bn, including £2bn in institutional and £2.9bn in intermediary. Assets under management of the unit reached £286.9bn.
Schroders chief executive Michael Dobson said: "Schroders' strong performance in 2014 continued in the first quarter of this year, with profit before tax up 14 per cent. to £149.6 million and assets under management up 7 per cent. to £319.5 billion since the start of the year. We generated net new business of £5.1 billion with net inflows in Institutional, Intermediary and Wealth Management."
