The report, released 30 April, showed that profit before tax and exceptional items jumped 14% on the £130.7m recorded during the same period in 2014.
Net inflows of £5.1bn contributed towards the group’s assets under management increasing from £300bn to £319.5bn – a 6.5% rise.
Revenue in Schroders’ asset management arm hit £348.5m in the quarter – up 13.8% on the £306.2m generated in Q1 2014 – while pre-tax profit reached £133.7m.
Net inflows in the division of £2.9bn and £2bn in intermediary and institutional respectively led to AUM rising 6.7% on the previous quarter, up to £286.9bn, complimented by £1.7m in performance fees.
The firm’s wealth management business recorded profit before tax and exceptional items of £14.9m, boosted by an AUM increase of £1.5bn from Q4 2014 to £32.6bn and net inflows of £200m.
In the group part of the business, pre-tax profit hit £1m for the quarter, while shareholders’ equity rose by £200m to reach £2.7bn.
“The results are pretty much in line with expectations, hence there has been no major share price reaction other than general market moves,” said David McCann, equity research analyst at Numis Securities.
“Schroders’ diversification means that they have less volatile results than some of their peers. Every other listed UK asset manager has an area of concentration, but for Schroders there is no clear driver of growth. This makes it quite an interesting proposition for long-term equity investors – however, it does make for dull results.”
