Schroders sees inflows double to record £27bn

first_img KCS-content Schroders sees inflows double to record £27bn Tags: NULL whatsapp Show Comments ▼ whatsapp WEALTH manager Schroders saw profits more than triple last year, driven by record net inflows.Profits before tax hit £407m, up from £137.5m a year earlier, outpacing consensus expectations of around £384m.Earnings per share also trebled from 34.3p to 111.7p, helping to boost its share price by around one per cent.The firm increased its dividend payment for the year by 19 per cent to 37p per share.Funds under management at the firm almost doubled to £197bn, on inflows of £27.1bn, outstripping last year’s record £15bn net inflows by a considerable distance.Schroders attributed strong demand for its investment products to a rising appetite for risk against a backdrop of loose monetary policy in the US, while sovereign debt woes in Europe drove more funds towards emerging market investments.However, the listed-asset manager warned on a mixed outlook for the year ahead.“We still think this will be the year of good growth but it is unrealistic to assume it will be at the levels of last year,” chief financial officer Kevin Parry said.Analysts revised forecasts for the coming year to predict new asset inflows of about £12bn. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Thursday 10 March 2011 7:32 pmlast_img

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