Schroders hits fresh AUM high as wealth and private markets drive growth

Performance fee pressures

Schroders hit a fresh assets under management high in the first half of 2024, buoyed by growth in its wealth management and private markets units despite grappling with performance fee pressures.

In its half-year results published today (1 August), the FTSE 100 firm reported AUM including joint ventures and associates was up 6.1% from the same period last year to £773.7bn. This was driven by an £18.3bn contribution from markets, FX and investment performance, as well as £3.9bn net new business. Excluding JVs and associates, AUM was £657.3bn, with net outflows of £3.9bn. The firm's wealth management business brought in £3.7bn net new business, while £3bn net inflows into private markets failed to offset the £7.6bn net outflows of its asset management division. Schroders eyes...