Its assets under management stood at £187.3bn at the end of last year and have subsequently risen to £194.6bn at the end of June this. The same figure at the end of June 2011 was £204.8bn.
Profits before tax have moved from £215.7m at the end of H1 2011 to £177.4m at the end H1 2012. This compares to £407.3m at the end of 2011.
Schroders generated net new business of £2.7bn in the first six months of 2012 “because of the diversification of our business across a broad range of asset classes, client segments and geographies”, said a company statement.
These net inflows compare to £3.2bn throughout the whole of 2011, but pale in comparison with the £27.1bn of 2010.
The same statement added: “Financial markets remained volatile in the first half of 2012 with most of the gains made earlier in the year given back in the second quarter as concerns increased over the stability of the eurozone and faltering economic growth.
“Consequently, there were no clear trends in investor sentiment beyond a natural reluctance amongst institutional, retail and high net worth clients to commit to long term investment strategies in the face of so much macro economic uncertainty.”
The firm’s intermediary division contributed net inflows of £1bn, with its US division being a particularly strong area of growth.
The company announced continued investment in its own business, coming as it does on top of Schroders taking a 25% stake in India’s Axis Asset Management.
It said: “We are engaged in a major information technology upgrade in support of our investment teams and we are taking advantage of the dislocation in markets to add to our pool of talent. While these investments add to our cost base, we believe they will position the firm well for the long term.”
