Schroders profits fall but AUM rises
Fund manager Schroders has seen a dip in pre-tax profits and inflows in the first three months of 2012, while also completing a strategic investment in Indian outfit Axis AMC.
Fund manager Schroders has seen a dip in pre-tax profits and inflows in the first three months of 2012, while also completing a strategic investment in Indian outfit Axis AMC.
Group profit before tax was £95.5m compared to the £103.8m in the first quarter of 2011. Net inflows were £1.6bn compared to the £3.1bn seen in the same period of last year. Assets under management (AUM) at the end of March were £199.6bn, up on the £187.3bn seen at the end of 2011.
Schroders also says it has bought 25% of Axis AMC, the asset management subsidiary of Axis Bank, the third largest private sector bank in India. Axis AMC has assets under management of $2.3bn.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Schroders says in conjunction with Axis Bank it wants to build a significant asset management player in the Indian market. It will also be able to distribute Axis AMC's funds internationally.
The main Asset Management division's net revenue for the quarter was £250.8m against a comparator of £261.2m during the same period of last year. Performance fees in the first quarter were £6.0m versus the £7.8m seen in the first three months of 2011.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best properties for sale with communal gardens
The best properties for sale with access to communal gardens – from an apartment in a listed building opposite London’s Hyde Park, to a wing of a mansion with access to 180 acres of parkland in Henley-upon-Thames
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency