# Schroders Plc AUM reaches new high of £777.4 billion

- Link: https://www.directorstalkinterviews.com/schroders-plc-aum-reaches-new-high-of-777.4-billion/4121176333
- Published: 2024-11-05T07:39:48+00:00
- Author: Amilia Stone

**[Schroders plc](https://www.directorstalkinterviews.com/ftse-company/schroders-plc/sdr.l)**(
LON:SDR) has announced its Q3 2024 update.

Total assets under management (AUM) reached a new high of £777.4 billion and the
Group’s net flows for the nine months to 30 September 2024 totalled £1.6 billion.

| £bn | **30 June 2024** | **Net flows** | Markets, FX and investment performance^(¹) | **30 September 2024** | 
| Private Markets | 68.5 | 1.0 | (0.7) | 68.8 | 
| Solutions | 220.8 | (2.7) | 3.1 | 221.2 | 
| Mutual Funds | 107.8 | 1.3 | 1.1 | 110.2 | 
| Institutional | 140.7 | (0.3) | 1.9 | 142.3 | 
| **Asset Management** | **537.8** | **(0.7)** | **5.4** | **542.5** | 
| Advised | 75.3 | 0.8 | 0.1 | 76.2 | 
| Platform | 20.2 | 0.4 | 0.3 | 20.9 | 
| Managed | 24.0 | (0.2) | 0.4 | 24.2 | 
| **Wealth Management** | **119.5** | **1.0** | **0.8** | **121.3** | 
| **Total excl. JVs and associates** | **657.3** | **0.3** | **6.2** | **663.8** | 
| JVs and associates | 116.4 | (2.6) | (0.2) | 113.6 | 
| **Group total** | **773.7** | **(2.3)** | **6.0** | **777.4** |

_¹Includes currency movements, which decreased AUM by £13.4 billion excluding JVs
and associates and £17.0 billion for the Group total._

AUM excluding joint ventures (JVs) and associates grew to £663.8 billion driven 
by positive net flows, markets and investment performance_._ Net flows in JVs and
associates, which were £5.2 billion positive in the nine months to 30 September 
2024, were negative in the third quarter due to continued market volatility in China.

In Asset Management, positive net flows in Private Markets were offset by foreign
exchange movements and in Solutions, the quarter-on-quarter net outflow continued
to reduce. In Mutual Funds, client demand for fixed income strategies continued 
to support AUM growth but drove a change in mix. In Institutional, flows were relatively
stable.

While there are good mandates funding across Asset Management in 2025, in the fourth
quarter of 2024 a notified outflow of c.£8 billion from the legacy Scottish Widows
mandate will affect Solutions, and we have notified losses from three Institutional
clients totalling c.£2 billion.

In Wealth Management, against a backdrop of falling interest rates, positive net
flows were driven by our advised business, reflecting continued momentum in Cazenove
Capital, while outflows in the managed business were driven by a single client insourcing
decision. We remain on track to achieve our net new business target of 5-7% of opening
AUM per annum.

> **Richard Oldfield, Schroders Chief Financial Officer, said:**
> **“**_AUM has reached £777.4 billion, with positive net flows in the first nine
> months of the year of £1.6 billion. Clients continue to benefit from the strength
> of our diverse client proposition, notably in the third quarter in our mutual 
> funds business and Cazenove Capital. _
> _“As the new Group CEO, I will be leading a business with a strong investment 
> franchise, deep client relationships, exceptional talent and significant potential
> for profitable growth. I will do what is necessary to deliver on this potential.
> Standing still is not an option for Schroders in today’s fast-changing market 
> landscape. We must focus to grow, build greater commercial discipline and drive
> efficiencies though simplification and flawless execution._
> _“I would personally like to thank Peter for his contribution to Schroders over
> the last decade and for his support during the transition period.” _

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