Slide 1: Schroders 2016 H1 Results Data Pack
Schroders 2016 H1 Results Data Pack July 2016
Slide 2: Contents
Contents Page Assets under management (AUM) 2 Regional diversification of AUM 3 Gross sales and net flows 4-5 Currency profile of AUM 6-7 AUM diversification 8-10 Asset Management AUM – detailed asset class analysis 11-13 Asset Management AUM flows 14-15 Net operating revenue and margins – Asset Man
Slide 3: Assets under management (AUM)
Assets under management (AUM) £343.8 billion at 30 June 2016 £bn Institutional Intermediary Asset Management Wealth Management Total 1 January 2016 181.0 100.9 281.9 31.6 313.5 Net flows 4.4 (3.3) 1.1 (0.4) 0.7 Investment returns 19.1 8.8 27.9 1.7 29.6 Transfers* (0.9) - (0.9) 0.9 - 30 June 2016 203
Slide 4: Regional diversification of AUM
Regional diversification of AUM* 63% of net operating revenues outside UK UK £135.5bn Continental Europe £63.2bn North America £38.6bn Asia Pacific £89.2bn Middle East & Africa £9.8bn South America £7.5bn * By client domicile 3 Schroders 2016 H1 Results | 28 July 2016
Slide 5: Gross sales
Gross sales £bn 30.0 25.6 23.0 21.3 19.9 20.0 17.9 15.6 10.0 0.0 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Equities Fixed Income Multi-asset Emerging Market Debt, Commodities & Real Estate Wealth Management 4 Schroders 2016 H1 Results | 28 July 2016
Slide 6: Net flows
Net flows £bn 10.0 5.1 4.7 5.0 3.7 2.7 0.0 (0.5) (2.0) (5.0) (10.0) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Equities Fixed Income Multi-asset Emerging Market Debt, Commodities & Real Estate Wealth Management 5 Schroders 2016 H1 Results | 28 July 2016
Slide 7: Currency profile of AUM
Currency profile of AUM Assets under management £343.8 billion 6% 2% 2% 2% 2% 4% 32% 5% 5% 12% 28% USD** GBP EUR AUD JPY CNY TWD CHF KRW IDR Other* * Includes the following currencies which individually constitute 1% of AUM: INR, SGD, BRL ** USD includes other currencies pegged to USD, including HKD
Slide 8: Currency profile of AUM
Currency profile of AUM Assets under management £343.8 billion Institutional £203.6bn Intermediary £106.4bn Wealth Management £33.8bn USD* 32% USD* 34% EUR 19% GBP 73% GBP 25% GBP 18% USD* 18% EUR 9% JPY 7% EUR 6% AUD 7% CNY 4% CHF 2% JPY 5% AUD 3% Other 1% CNY 4% IDR 3% TWD 2% TWD 2% KRW 2% SGD 2%
Slide 9: Total AUM by channel, region and product
Total AUM by channel, region and product Assets under management £343.8 billion By channel By region* By product 10% 13% 10% 4% 40% 40% 31% 26% 25% 59% 21% 21% Equities Institutional UK Fixed Income Continental Europe, Middle East & Africa Multi-asset Intermediary Asia Pacific Emerging Market Debt,
Slide 10: Asset Management AUM by channel and product
Asset Management AUM by channel and product Institutional AUM £203.6bn Intermediary AUM £106.4bn 6% 3% 21% 39% 31% 53% 23% 24% Equities Fixed Income Multi-asset Emerging Market Debt, Commodities & Real Estate 9 Schroders 2016 H1 Results | 28 July 2016
Slide 11: Asset Management AUM by channel and region
Asset Management AUM by channel and region* Institutional AUM £203.6bn Intermediary AUM £106.4bn 11% 17% 25% 40% 29% 28% 35% 15% UK Continental Europe, Middle East & Africa Asia Pacific Americas * By client domicile 10 Schroders 2016 H1 Results | 28 July 2016
Slide 12: Asset Management AUM – detailed asset class analysis
Asset Management AUM – detailed asset class analysis Assets under management £310.0 billion Emerging Market Debt, Commodities Equities £136.8bn Fixed Income £73.4bn Multi-asset £85.7bn and Real Estate £14.1bn Asia Pacific 18% US 33% Risk controlled growth 41% Real estate 74% Quantitative equities 16
Slide 13: Institutional AUM – detailed asset class analysis
Institutional AUM – detailed asset class analysis Assets under management £203.6 billion Emerging Market Debt, Commodities Equities £80.4bn Fixed Income £48.4bn Multi-asset £63.4bn and Real Estate £11.4bn Quantitative equities 24% US 46% Risk controlled growth 38% Real estate 78% Emerging markets 17
Slide 14: Intermediary AUM – detailed asset class analysis
Intermediary AUM – detailed asset class analysis Assets under management £106.4 billion Emerging Market Debt, Commodities Equities £56.4bn Fixed Income £25.0bn Multi-asset £22.3bn and Real Estate £2.7bn Asia Pacific 23% Europe 42% Risk controlled growth 47% Real estate 56% Europe 17% Global 22% Inco
Slide 15: Institutional
Institutional Assets under management: £203.6 billion £bn 15.0 10.4 10.6 10.0 9.3 7.4 7.3 4.9 5.3 5.0 4.5 2.0 1.6 0.0 (0.1) (0.1) (5.0) (5.0) (5.1) (5.8) (6.1) (7.3) (7.4) (10.0) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Gross inflows Gross outflows Net flows 14 Schroders 2016 H1 Results | 28
Slide 16: Intermediary
Intermediary Assets under management: £106.4 billion £bn 20.0 14.7 15.0 13.9 9.6 9.5 10.0 8.4 9.3 5.0 2.9 1.9 0.0 (0.2) (0.3) (1.8) (1.5) (5.0) (10.0) (8.7) (9.8) (11.3) (10.8) (11.8) (12.0) (15.0) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Gross inflows Gross outflows Net flows 15 Schroders 20
Slide 17: Net operating revenue and margins – Asset Management
Net operating revenue and margins – Asset Management Asset Management Net operating revenue £687.8 million FY 2015 H1 2015 H1 2016 Performance fees - £m 35.7 5.9 6.4 Performance fees on average AUM 1 bps 1 bps 0 bps Net operating revenue (ex performance fees) - £m 1,357.7 687.0 681.4 Net operating r
Slide 18: Income statement progression
Income statement progression Asset Management profit before tax £m Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Institutional 152.7 156.3 146.5 173.2 152.7 163.4 Intermediary 186.6 197.3 192.6 188.2 183.1 188.6 Net operating revenue 339.3 353.6 339.1 361.4 335.8 352.0 Net gains/(losses) on financ
Slide 19: Income statement progression
Income statement progression Wealth Management profit before tax £m Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Net operating revenue 52.4 53.3 51.9 49.7 51.9 55.2 Net (losses)/gains on financial instruments and other income (0.2) - (0.1) 0.2 0.1 0.4 Net income 52.2 53.3 51.8 49.9 52.0 55.6 Oper
Slide 20: Income statement progression
Income statement progression Group segment (loss)/profit before tax £m Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Net gains on financial instruments and other income 6.7 5.2 7.2 11.0 8.0 6.8 Share of profit of associates* 1.2 5.7 1.0 0.8 1.8 1.8 Net income 7.9 10.9 8.2 11.8 9.8 8.6 Operating ex
Slide 21: Cost and return metrics
Cost and return metrics Total Schroders Group costs ► Total compensation ratio 2015 H1 2015 H1 2016 = compensation costs divided by net income** Total compensation ratio* 44% 44% 45% ► Total cost ratio Headcount 3,784 3,685 3,866 = costs divided by net income Total costs* 1,048.8 520.7 550.5 ► Retur
Slide 22: Movement in capital
Movement in capital £m 2016 1 January 2016 2,795.6 Profit before tax and exceptional items 293.7 Exceptional items (11.4) Net movement arising from AFS financial assets 2.6 Exchange differences on translation of foreign operations after hedging 74.1 Actuarial gain on defined benefit pension schemes
Slide 23: Group capital allocation
Group capital allocation Increase of £133 million for the six months ended 30 June 2016 December June £m 2015 2016 Regulatory capital 653 687 Other operating capital 253 165 Investment capital* 942 1,070 Seed capital 229 246 Other** 719 761 Statutory Group capital 2,796 2,929 * Includes RWC Partners