Schroders’ wealth management unit posted pre-tax profit of £30.1m, a 21% decrease from last year.

The division’s net income was £144m for the first half of 2019, compared to £143.8m a year ago.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Assets under management in wealth management were up, however. As of 30 June 2019 the division managed £50.7bn versus £43.7bn at the end of 2018.

Schroders Asset Management

The firm’s asset management arm registered net income before exceptional items of £864.6m in the first half of 2019, a 6% drop from £921.5m in the previous year.

Pre-tax profit at the unit in the first six months of 2019 was £284.4m, a 14% decline on a year-on-year basis.

The division’s assets under management at the end of June 2019 reached £393.7bn, compared to £363.5bn as of 31 December 2018.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Schroders Group profit

At group level, Schroders reported a pre-tax profit of £319.3m for the first half of 2019, a fall of 14% from £371.1m a year earlier.

Profit before tax and exceptional items dropped 14% to £340.4m from £397.1m.

The first half of 2019 posted net outflows of £1.2bn, as against inflows of the same figure a year ago.

However, the firm’s total assets under management at the end of June 2019 were £444.4bn, a 9% rise from £407.2bn at the end of December 2018.

Schroders group CEO Peter Harrison said: “We have continued to follow our strategy of selectively investing in key areas to drive the long-term growth of the business through a combination of inorganic investments and organic hiring.

“Assets under management finished the period at a new high of £444.4 billion. The overall pipeline of notified net new inflows is strong.”