- Schroders posted a FY pre-tax profit of £618.1m, from £589m a year ago, in what it described as a good set of results.

Total dividend was 93p a share, up from 87p.

CEO Peter Harrison said Schroders had made good progress against its strategic objectives and saw a number of future growth opportunities.

"We delivered good results in 2016, with profit before tax and exceptional items increasing 6% to £644.7m," he said.

"Strong investment performance, positive net inflows and strategic acquisitions led to assets under management and administration increasing 27% to £397.1bn."

Assets under management and administration rose 27% to £397.1bn, from £313.5bn. Net inflows totalled £1.1bn.

Schroders said its net operating revenue increased 7% to £1.72bn, from £1.6bn, while net income increased 8% to £1.79bn, from £1.66bn.

"We generated £1.1bn of net new business during the year, with continued demand from institutional clients offsetting outflows from Intermediary and Wealth Management clients" said Schroders.

"We also continued to invest in the future growth of the business and we entered into a number of strategic relationships and completed three acquisitions."

Acquisitions increased Schroders' assets under management by £6.7bn, and resulted in a new category of client assets with £11.1bn of assets under administration introduced through the acquisition of Benchmark Capital.

Benchmark Capital is a technology-led, high-quality adviser support business based in the UK, which has the potential to significantly enhance the service we provide to UK intermediary and wealth management clients.

The weakness of sterling increased assets under management and administration by about £42bn.

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