Schroders plc (LON:SDR) today confirmed its assets under management at 31 March 2020 as follows:
|£bn||Private Assets & Alternatives||Solutions||Mutual Funds||Institutional||Asset Management||Wealth Management||Total|
|31 December 2019||44.2||142.8||102.4||144.1||433.5||66.7||500.2|
|31 March 2020||43.7||157.7||82.9||127.5||411.8||58.7||470.5|
Annual General Meeting
The Company intends to hold the Annual General Meeting (AGM) of Schroders plc as scheduled at 11.30 a.m. BST on Thursday 30 April at 1 London Wall Place, London, EC2Y 5AU. Only a quorum of three employee shareholders will be in attendance in person. In light of the Government’s stay at home measures, no other shareholders will be admitted to the AGM and shareholders should not travel to the AGM. The Company has made arrangements for shareholders to join the AGM by telephone from 11.15 a.m. BST using the freephone number 0800 358 9473 and PIN: 78719734#. For international freephone and toll dial-in details please visit www.schroders.com/AGM. Shareholders joining the AGM by telephone will be able to ask questions on the day. Shareholders can also submit questions in advance by email to email@example.com. A summary of the questions asked on the day and by email will be published on the AGM page of our website at www.schroders.com/AGM.
Shareholders are asked to vote by proxy. You may appoint a proxy by completing, signing and returning the Proxy Form that was sent to you with the AGM Notice. Alternatively, you may appoint a proxy electronically via www.investorcentre.co.uk/eproxy or, if you hold your shares in CREST, via the CREST system. For the 2020 AGM only, shareholders may also submit their votes by emailing a scan of their validly completed and signed proxy card to firstname.lastname@example.org. To ensure your vote is counted at the AGM, your proxy appointment must be received by 11.30 a.m. BST on Tuesday 28 April 2020.
The Board recommends that shareholders vote in favour of all resolutions.
Peter Harrison, Group Chief Executive, commented: “During this period of extreme market volatility and social and economic uncertainty, the business has proven to be resilient. The well-being of our people is our top priority and they have responded admirably with the significant investments we have made in technology enabling efficient remote working globally. This has allowed us to remain focused on delivering positive investment outcomes for our clients.
We generated strong flows in the first quarter of the year with net new business of £30.4 billion and have successfully on-boarded the remainder of the Scottish Widows mandate, which contributed net new business of £29.5 billion.
As an investor in many companies we remain actively engaged in supporting business through these extraordinary times with the aim of protecting the long-term interests of all stakeholders. We are committed to supporting our clients, colleagues and the wider community throughout the current COVID crisis. We are not seeking any government assistance globally, nor are we furloughing any employees or enacting any related redundancy programmes.
We will also materially increase our support for charities, assisting those most impacted by COVID-19. This comprises a range of actions including direct grants; the establishment of a company-wide ‘collective action’ scheme to enable all employees to voluntarily donate up to 25% of three months’ salary; the donation by the executive Directors of their entitlement to their 2020 LTIP awards as well as 25% of their salaries for three months; the Chairman and non-executive Directors will also donate 25% of their fees for three months; and contributions from an extended Schroders match-giving programme.
Our strategy of maintaining a strong capital position allowing investment in our business through the market cycle remains unchanged and we are confident that we will continue to generate value over the long term for our clients and our shareholders.”