Schroders and Henderson Asset Management are raking in new money this year.
Schroders had £8.8 billion in new client money during the first half of 2015, and Henderson had inflows of £5.6 billion during the same time, reports the Financial Times. Schroders CEO Michael Dobson says the new client money went mainly into fixed income funds, but also Asian Pacific and European equities.
Schroders reported a pre-tax profit of £290.3 million for the first half of the year, up from £233.9 million the same time last year. The firm’s assets under management were up 14% to £209.9 billion. Writes the Financial Times:
“We continue to believe that Schroders is a dull and boring company, which is precisely why we think it is interesting as a long-term investment,” said analysts at Numis.
Henderson’s assets under management were up 10% to £82.1 billion between January and June. The firm beat predictions, £305.7 million, adjusted for the cost of 2013 acquisitions, and above the forecast of £300 million.
Photo: Roger W