Schroders AUM reaches £779bn as profits rise 14%

In its annual results published today (6 March), the asset manager said this was supported by the absence of restructuring costs. Meanwhile, the firm's operating profit was down 3% from £661m in 2023 to £640.5m last year following the impact of higher operating expenses, lower performance fees and reduced returns from its joint ventures. The fall in returns from Schroders' joint ventures and associates – which declined from £51.1m in 2023 to £47.6m a year later – was mainly due to lower profits from the investment manager's long-standing venture with Bank of Communications in China. ...