Schroders reported assets under management of £300 billion ($456.9 billion) as of Dec. 31, a 14% increase for the year, with institutional business representing 57% of the total.
Institutional net inflows were £17.6 billion for the year. That compared with institutional net inflows in 2013 of £4.6 billion, and was bolstered by a £12 billion allocation in multiasset and equities strategies from Friends Life, announced in March 2014. Institutional investment returns also added £9.2 billion over the year.
Total net new business for the money manager was £24.8 billion, up from £9.4 billion for the year ended Dec. 31, 2013. Net inflows included £13.3 billion of net inflows from investors in the U.K., £6 billion in continental Europe, and £5.3 billion in the Asia-Pacific region.
Multiasset strategies saw net inflows of £16.9 billion; fixed income, £4.7 billion; and equities, £4.5 billion. Commodities, however, recorded net outflows. A spokeswoman for Schroders said in an e-mail that commodities flows were included in the firm's emerging markets debt, commodities and real estate segment, which recorded £1.8 billion of net outflows for the year. She added that these outflows “were almost entirely from our commodities business.”
Overall profit before tax for the year was £517.1 million, up 16% from 2013.
“2014 was a record year for Schroders,” said Michael Dobson, CEO at the money manager, in a statement accompanying the 2014 financial update. “We believe our focus on building a diversified business across a broad range of investment strategies will continue to deliver value for clients and shareholders over the long term.”
