StockMarketWire.com - Schroders Plc has seen a small increase in pre-tax profits, rising to £702.3 million in 2020 from £701.2 million the year prior.

The asset manager recorded £42.5 billion in net inflows and assets under management increased by 15%, up from £500.2 billion in 2019, to a record high of £574.4 billion.

According to the results statement, 75% of assets outperformed over one year, 72% over three years and 81% over five years.

Partnerships, predominantly in Asia, generated a further £12.4 billion of net inflows which increased the total net flows to £54.9 billion. Assets under management including our partnerships reached £663 billion.

Peter Harrison, group chief executive at Schroders, said: 'Assets under management increased 15% to reach a record high of £574.4 billion. We generated net inflows of £42.5 billion with strong demand in our Private Assets, Wealth Management and Solutions businesses. These higher growth areas now account for 54% of our assets under management.

'Our geographic diversification continued with our US business reaching a milestone of more than $100 billion of assets under management. We also continued to expand in Asia through our growing network of partnerships which contributed strongly to the group in 2020.'





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