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Schroders PLC on Thursday reported a strong annual performance with Private Assets & Alternatives and Wealth Management businesses driving growth.
Schroders shares were down 3.2% to 2,984.00 pence each in London on Thursday.
The London-based asset manager reported pretax profit of £764.1 million in 2021, up 25% from £610.5 million in 2020.
Revenue increased 18% to £2.96 billion from £2.51 billion.
Assets under management were up 10% to £731.6 billion at December 31 from £663.0 billion a year before.
‘Our diversified business model has again demonstrated its advantages, as we have delivered our strongest results to date reflecting the benefit of the investments we have made in our business in recent years,’ Schroders said.
‘Our strategy has delivered robust organic growth, with strong contributions from our Private Assets & Alternatives and Wealth Management businesses, our range of mutual funds and geographic expansion, as well as our Asian joint ventures and associates,’ it added.
Schroders declared a final dividend of 85 pence per share, up 7.6% from 79p. It paid out 122.0 pence per share for the year, up 7.0% from 114.0p.
Looking ahead, Schroders said: ‘We continue to broaden our business towards resilient and high growth areas, such as wealth management and private assets. We believe that leadership in sustainability will be a critical success factor going forward. Our recently announced acquisitions will help further accelerate the development of the group.
‘After a period of benign markets there is a risk that the current turbulence will be with us for some while. In such uncertain times our diverse business model enables us to focus on the long-term interests of our clients and other stakeholders.’
Separately, Schroders has appointed Paul Edgecliffe-Johnson to the board as independent non-executive director, effective July 1. Edgecliffe-Johnson is currently chief financial officer and head of strategy of InterContinental Hotels Group PLC.
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