Schroders profits rise 7%

At the same time, assets under management remained broadly flat, down just under £2bn to £776.6bn in the first six months of the year. Schroders explained that, despite enjoying a £24bn uplift from positive market movements and investment performance, these were offset by foreign exchange movements due to a weaker US dollar. The firm said it has made "good progress" with its transformation programme, which has enabled it to cut operating expenses by £21m between January and end of June. However, the transformation costs for the first half of the year amounted to £44.9m, Schroders n...