Schroders wealth arm revenues double after Cazenove deal

In its results for the first quarter of the year, Schroders reported net revenue in its wealth management business had risen 90% to £50.3m, up from £26.5m in Q1 2013. Profit before tax and exceptional items was up 171% at £13.3m, while AUM remained broadly flat at £30.2bn. The asset management business  saw net inflows of £3.8bn in the first quarter of 2014, thanks to a strong three months in the intermediary market. This figure is 58% higher than that of the fourth quarter last year. However, the asset manager cautioned demand may reduce in the short term. Assets under management ...