StockMarketWire.com - Asset management company Schroders has increased its profits for the six months ended 30 June by 33% in comparison to the year prior, delivering a profit of £407.5 million.

Client investment performance remained strong with 87% of assets outperforming their relevant comparator over one year, 75% over three years and 82% over five years.

The company generated net new business of £17.9 billion, as assets under management increased 6% to a new high of £700.4 billion.

Excluding joint ventures and associates, Schroders generated net new business of £10.5 billion and assets under management reached £602.4 billion.

The board has recommended an interim dividend of 37 pence per share, which represents a 6% increase.

In a management statement, Schroders said that it was able to take advantage of greater investor risk appetite, particularly in Europe and the US, as demand for mutual funds and higher-margin equity products increased.


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