BREAKING NEWS

BREAKING NEWS

Schroders FY pretax profit down 15 percent on higher costs, fall in assets

Schroders FY pretax profit down 15 percent on higher costs, fall in assets
FILE PHOTO: A man walks past the logo of investment management company Schroders at a branch in Zurich, Swtzerland November 5, 2018. REUTERS/Arnd Wiegmann -
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ARND WIEGMANN(Reuters)
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LONDON (Reuters) - British asset manager Schroders on Thursday posted a 15 percent fall in full-year pretax profit on the back of higher one-off costs and a fall in assets under management and fee income.

Pretax profit in the year to end-December was 649.9 million pounds, down from 760.2 million pounds a year earlier. Assets under management fell 6 percent to 421.4 billion pounds amid weaker markets and net outflows of 9.5 billion pounds.

(Reporting by Simon Jessop, editing by Sinead Cruise)

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