Profit before tax and exceptional items has risen 17% to £305.7m, with net inflows hitting £8.8bn.
Asset management net revenue increased 12% to £694.3 million including performance fees of £5.9m. Net inflows in intermediary were £4.8bn spread across equities, fixed income and multi-asset, with ‘high levels’ of sales in continental Europe and Asia Pacific.
Wealth Management net revenue increased 5% to £105.5m. Net inflows were £0.4bn and assets under management at the end of June were £32bn.
Accordingly, Schroders has increased its interim dividend by 21% to 29p per share.
These rises came despite headwinds from what the company said were ‘mounting uncertainties in the eurozone and in China’ and the strength of sterling in the second quarter, which Schroders said reduced assets by £10.2bn between 31 March and 30 June.
“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,” said chief executive Michael Dobson. “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.”
