Schroders interim AuM rises

UK fund manager Schroders reported a 1% rise in assets under management to £773bn.

Pre-tax profit fell 16% to £313m and operating profit increased by 2% to £406.9m, Schroders said on Thursday.

“The first half of 2022 was dominated by sharp market declines caused by a combination of the war in Ukraine and a shift in the outlook for inflation and interest rates. The result is an increased risk of a global recession, and that has had an inevitable impact on our business,” the company said.

Reporting by Frank Prenesti at Sharecast.com