Schroders  

Schroders assets up 2% in Q3

Schroders assets up 2% in Q3

Schroders has seen assets under management rise to £716.9bn in the third quarter of the year.

A large part of that growth was down to the joint venture (not including Schroders Personal Wealth) and associate companies where assets under management jumped from £98bn to £111.4bn.

In the three months to 30 September, AUM for its asset management arm was up from £526.1bn to £527.2bn while its wealth management arm grew from £76.3bn to £78.3bn.

This comes as earlier this year Schroders announced that Dame Elizabeth Corley is to join the Schroders’ board as a non-executive director and chairwoman designate.

Corley, who was chief executive of Allianz Global Investors from 2005 to 2016, has previously worked at Merrill Lynch Investment Managers, and Coopers & Lybrand where she was a consulting partner

She is to succeed Michael Dobson as chairman of the board in April next year.

Office openings

Meanwhile Cazenove Capital, which is part of Schroders Wealth Management, is to open an office in Manchester to serve its client base in the North West.

In a statement in August, the firm said the office formed “part of a strategy to build on-the-ground presence in the major UK regional hubs”.

Likewise, Schroders Personal Wealth has opened an office in Leeds as it looks to grow its presence across the UK.

The office will be located in City Square in the city centre, and will act as the regional hub to serve SPW’s client base in Yorkshire and the North East. 

Meanwhile, last month Schroders failed to make the list of signatories to the revamped UK Stewardship Code but said this was down to the way in which it completed the submission rather than its substance or content.

The Financial Reporting Council published a list of signatories to the UK Stewardship Code, following a revamp that imposed tougher reporting requirements on investors.

From the 189 applications received by the FRC — which included 147 asset managers, 28 asset owners including pension funds and insurers, and 14 service providers — two-thirds (125 organisation) made the final list.

But more than 60 applicants did not make the list, including Schroders, JPMorgan Asset Management and State Street Global Advisors.

sonia.rach@ft.com

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