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Schroders reports record inflows

Schroders revealed its annual results today, showing the group took a record £15 billion of inflows in the year to December 31, 2009.

This compares with net outflows of £9.6 billion in 2008.

Funds under management have grown to £148.4 billion, up from £110.2 billion the previous year.

Total pre-tax profit came to £137.5m, with a full-year dividend of 31p per share.

Lower net revenue margins resulted in a fall in net revenue to £788.9m, down from £872.9m in 2008, Schroders says.

The net revenue of the asset management business fell from £748.7m in 2008 to £697.2m, as some funds failed to hit high watermarks for performance fees.

In its management statement, the group 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.

Total pre-tax profit came to £137.5m, with a full-year dividend of 31p per share

“However, 2010 has started well with high levels of net inflows in institutional and intermediary and we see further significant organic growth opportunities longer-term, based on strong investment performance for clients, a broad product range, a proven distribution capability and a geographically diversified business.”

Meanwhile, Sir Peter Job will retire from the board following an annual general meeting on May 6.

Andrew Beeson will become a senior independent director and the chairman of the remuneration committee and Merlyn Lowther will succeed him as the chairman of the audit committee.

Robin Buchanan, a former president of the London Business School, joins the board on March 4.


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