Schroders sees record inflows hitting £15bn
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Schroders took a record £15bn of inflows last year after outflows of £9.6bn in 2008.
Funds under management grew by grown 35 per cent to £148.4bn from £110.2bn.
Profits rose by 12 per cent to £138m from £123m, with a full-year dividend of 31p per share.
There was a 10 per cent fall in net revenue from £873m to £789m in 2009. Net revenue of the asset management business fell by 7 per cent from £749m to £697m as some funds failed to hit high watermarks for performance fees.
The company says: “After the gains over the past nine months and with most developed countries still facing economic and financial challenges, a period of consolidation in financial markets is likely. However, 2010 has started well with high levels of net inflows in institutional and intermediary and we see further significant organic growth opportunities in the longer term, based on strong investment performance for clients, a broad product range, a proven distribution capability and a geographically diversified business.”
Sir Peter Job is to retire as senior independent director in May. Andrew Beeson becomes senior independent director and chairman of the remuneration committee and Merlyn Lowther becomes chairman of the audit committee. Robin Buchanan, a former president of the London Business School, joined the board last week.
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