Schroders posts net outflows of £1bn during first half as transformation costs hit pre-tax profit

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Despite recording net outflows at a group level, Schroders’ wealth and private markets businesses pulled in new money during the first half of the yearPhoto: Peter Dazeley

Schroders, the UK-listed asset manager, recorded net outflows of £1bn during the first half of the year, with transformation costs and other expenses denting its pre-tax profit.

Half year results published by the London-headquartered group on 31 July show assets under management of £776.6bn remained broadly flat on the same period last year.