British fund manager Schroders has posted a pre-tax profit of £438.9m for nine months to 30 September 2015, a rise of 21% from £364.2m a year earlier.
The group's profit before tax and exceptional items was £453.2m, up 12% from £404.4m a year ago.
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The firm's total assets under management (AuM) stood at £294.8bn, up 6.7% compared to £276.2bn in the year ago period.
The group reported net inflows of £8.3bn for the period, up 18.5% from £7bn a year ago.
Wealth Management
Schroders' wealth business has reported net revenue of £157.3m for the first nine months of 2015, a decrease of 3% compared with £162.2m a year earlier.
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By GlobalDataThe net revenue included the release of a £7.5m loan loss provision and performance fees of £2.8m.
For the nine months to 30 September 2015, the division's profit before tax and exceptional items was £46.5m, down 5.4% from £49.2m reported during the same period last year, while the unit's profit before tax was £47.7m.
Net inflows in wealth were £0.2bn compared to £0.4bn a year ago. The assets under management of the wealth business at 30 September 2015 stood at £30.9bn.
Asset Management
Schroders' asset management arm has posted net revenue of £1.03bn for the first nine months of 2015, a rise of 8.6% from £950.5m in the prior year. This includes performance fees of £12.7m.
The unit's profit before tax and exceptional items was £400.4m, a 12.8% jump from £354.8m in the first nine months of 2014 and profit before tax was £391.3m.
Net inflows for the year to date were £8.1bn, comprising £3.5bn in institutional and £4.6bn in intermediary.
For the nine months ended 30 September 2015, assets under management at the unit also saw an increase from £245.7bn to £263.9bn.
Schroders CEO Michael Dobson said: "In the first nine months of the year profit before tax increased to £438.9 million and we generated £8.3 billion of net new business. These results reflect the resilience of our diversified business at a time of heightened market volatility."
