Schroders beats forecasts with 18% profit growth in Q3

The fund manager recorded pre-tax profits of £142.9m in Q3, against analyst predictions of £131m. Profit in the first nine months of the year stood at £404.4m, despite a £27m adverse impact due to the strength of sterling. Schroders reported net inflows of £7bn across the business in the nine months to October, compared to £5.5bn in the same period in 2013. Assets under management were £276.2bn, an 8% rise compared to £256.7bn at the end of September 2013. Consensus forecasts had put AUM at £273.1bn. The asset management division's net revenue for the three months to 30 Septembe...