Schroders records 14% jump in profits in Q1

Schroders has reported a strong first quarter, with profits rising as the group reported strong net inflows into its funds.

In its interim results for the three months to 31 March, Schroders reported group pre-tax profit was up 14% from the same period last year to £149.6m. Pre-tax profits in the asset management division were up 14% to £133.7m, while wealth management saw pre-tax profits rise 12% to £14.9m. The asset management arm saw a net inflow of £4.9bn which comprised of £2.9bn in  intermediary and £2bn in institutional. Wealth management saw a net inflow of £0.2bn. Total assets under management were £319.5bn, up from £300bn at the end of 2014, split £286.9bn in asset management and £32.6bn in we...