Slide 1: 2022 Full-Year Results Data Pack
2022 FULL-YEAR RESULTS 2 March 2023 Data Pack
Slide 2: Contents
Assets under management (AUM) 3–5 Regional diversification of AUM 6 AUM by business area, region and product 7 Gross and net flows 8–11 Currency profile of AUM 12 Asset Management AUM – detailed business area analysis 13–15 Asset Management net flows by business area 16 Asset Management gross and ne
Slide 3: £737.5 billion AUM at 31 December 2022
£737.5 billion at 31 December 2022 Asset Management Wealth Management Total AUM (excl. Total AUM (incl. £bn Associates and JVs Total Total Associates and JVs) Associates and JVs) 1 January 2022 534.0 81.2 615.2 116.4 731.6 Restatement1 – 20.4 20.4 14.7 35.1 Restated 1 January 2022 534.0 101.6 635.6
Slide 4: Asset Management AUM £626.1 billion
£626.1 billion at 31 December 2022 Asset Management Asset Management Schroders Schroders Mutual Asset Management £bn Institutional Total (excl. Total (incl. Capital Solutions Funds Associates and JVs Associates and JVs) Associates and JVs) 1 January 2022 53.7 198.1 116.0 166.2 534.0 116.4 650.4 Tran
Slide 5: Wealth Management AUM £111.4 billion
£111.4 billion at 31 December 2022 Total (excl. Associates and Total (incl. £bn Advised Platform Managed Associates and JVs) JVs Associates and JVs) 1 January 2022 81.2 – 81.2 Restatement1 20.4 14.7 35.1 Restated 1 January 2022 61.4 18.7 21.5 101.6 14.7 116.3 Net flows 4.4 0.6 0.4 5.4 0.2 5.6 Acquis
Slide 6: Regional diversification of AUM
£737.5 billion at 31 December 2022 UK2 £334.1bn Continental Europe North America2 £97.1bn £79.8bn Middle East and Africa £12.0bn Asia Pacific2 £204.0bn South America £10.5bn 1By client domicile. 6 2Associates and JVs AUM comprises of £106.6 billion in Asia Pacific, £13.3 billion in the UK and £1.1 b
Slide 7: AUM by business area, region and product
Assets under management £737.5 billion By business area By region1 By product 9% 12% 9% 2% 29% 31% 13% 13% 15% 45% 14% 19% 19% 28% 26% 16% Schroders Solutions UK Equities Institutional Asia Pacific Multi-asset Associates and JVs Fixed Income Europe, Middle East & Africa Wealth Management² Mutual Fun
Slide 8: Gross inflows half-yearly
Half-yearly £bn 80 72.4 64.0 59.2 60 55.7 40 20 0 H1 2021¹ H2 2021¹ H1 2022 H2 2022 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 1Wealth Management inflows have been restated to reflect the basis on which contractual revenues are earned by the Group. Inflows are
Slide 9: Gross inflows annually
Annually £bn 140 128.1 123.2 120 100 80 60 40 20 0 2021¹ 2022 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 1Wealth Management inflows have been restated to reflect the basis on which contractual revenues are earned by the Group. Inflows are now recognised where s
Slide 10: Net flows half-yearly
Half-yearly £bn 16 11.6 4.4 12 5.6 8 4 0 (4) (8) (6.0) (12) H1 2021¹ H2 2021¹ H1 2022 H2 2022 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 1Wealth Management net flows have been restated to reflect the basis on which contractual revenues are earned by the Group.
Slide 11: Net flows annually
Annually £bn 20 17.2 10 0 (10) (1.6) (20) 2021¹ 2022 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 1Wealth Management net flows have been restated to reflect the basis on which contractual revenues are earned by the Group. Net flows are now recognised where separa
Slide 12: Currency profile of AUM
Assets under management £616.5 billion 5% 2% GBP 2% 2% 2% USD¹ 2% 4% EUR 39% JPY CNY 13% AUD CHF TWD KRW 29% Other² 1USD includes other currencies pegged to USD, including HKD. 12 2Includes the following currencies which individually constitute 1% of AUM: INR, SGD, IDR, CAD. 2022 Full-Year Results
Slide 13: AUM £518.4 billion by business area and asset class
Assets under management £518.4 billion excl. Associates and JVs Schroders Capital Schroders Solutions Mutual Funds Institutional £68.3bn £210.2bn £100.8bn £139.1bn Real estate 37% Multi-asset 79% Equities 60% Equities 77% Private Equity 17% Fixed Income 11% Fixed Income 27% Fixed Income 23% Private
Slide 14: AUM £518.4 billion by business area and region
Assets under management £518.4 billion excl. Associates and JVs Schroders Capital Schroders Solutions Mutual Funds Institutional £68.3bn £210.2bn £100.8bn £139.1bn Europe, Middle East & Africa 45% UK 80% Europe, Middle East & Africa 34% Americas 36% UK 37% Asia Pacific 10% Asia Pacific 29% Asia Paci
Slide 15: AUM £518.4 billion by asset class detail
Assets under management £518.4 billion excl. Associates and JVs Equities Multi-asset Fixed income Private Assets & £188.6bn £177.9bn £83.6bn Alternatives £68.3bn Global 24% Risk mitigation 45% US 25% Real estate 37% Asia Pacific 23% Risk controlled growth 44% Europe 19% Private Equity 17% Emerging m
Slide 16: Net flows £(7.0) billion by business area
£(7.0) billion at 31 December 2022 excl. Associates and JVs £bn 8 6.4 6 4 2 0 (2) (0.2) (4) (6) (5.9) (8) (7.3) (10) Schroders Capital Schroders Solutions Mutual Funds Institutional Equities Fixed Income Private Assets & Alternatives Multi-asset 16 2022 Full-Year Results
Slide 17: Schroders Capital gross and net flows
Assets under management £68.3 billion £bn 12 10.0 10 8 7.5 6.1 6 5.6 4.8 4.1 4.4 3.6 4 2.5 1.6 2 0.9 0 (2) (0.4) (4) (3.1) (3.1) (3.2) (4.0) (4.5) (6) (5.2) (8) H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Gross inflows Gross outflows Net flows 17 2022 Full-Year Results
Slide 18: Schroders Solutions gross and net flows
Assets under management £210.2 billion £bn 60 55.8 50 42.7 40 30 25.2 20 13.0 14.3 9.4 10.3 10 6.3 0.7 0 (0.4) (1.1) (10) (6.5) (9.8) (11.4) (20) (13.1) (12.3) (18.9) (20.8) (30) H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Gross inflows Gross outflows Net flows 18 2022 Full-Year Results
Slide 19: Mutual Funds gross and net flows
Assets under management £100.8 billion £bn 40 30 27.8 18.8 20.2 20.5 19.3 20 14.4 10 6.4 1.7 1.7 0 (4.8) (2.9) (3.0) (10) (20) (17.4) (18.5) (18.8) (21.4) (22.2) (23.6) (30) H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Gross inflows Gross outflows Net flows 19 2022 Full-Year Results
Slide 20: Institutional gross and net flows
Assets under management £139.1 billion £bn 20 14.6 14.3 15 13.0 11.4 10.7 10.0 10 5 0.7 1.0 0.3 0 (0.7) (5) (3.5) (10) (7.6) (15) (12.1) (12.3) (13.6) (14.2) (14.0) (20) (17.6) H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Gross inflows Gross outflows Net flows 20 2022 Full-Year Results
Slide 21: Wealth Management AUM £98.1 billion
Assets under management £98.1 billion AUM by client size Gross and net flows £bn 11% 12 10.2 6% 7.9 8 6.6 6.6 7% 40% 4.1 3.8 4 2.1 1.6 8% 0 11% (4) 7% 10% (4.1) (4.5) (5.0) (8) (6.1) <£1m £1m-£5m H1 2021¹ H2 2021¹ H1 2022 H2 2022 £5m-£10m £10m-£25m £25m-£50m £50m-£100m £100m-£250m >£250m Gross inflo
Slide 22: Asset Management operating profit £593.1 million
Asset Management operating profit £593.1 million £m 2021 2022 Net operating revenue (excl. performance fees and net carried interest) − £m 1,917.0 1,908.0 Performance fees − £m 94.2 42.6 Net carried interest − £m 31.9 16.5 Net operating revenue (incl. performance fees and net carried interest) − £m
Slide 23: Asset Management operating profit income statement
Asset Management operating profit £593.1 million £m 2021 2022 Net operating revenue 2,043.1 1,967.1 Share of profit of associates and joint ventures 73.9 73.6 Other net operating income 20.5 28.0 Net operating income 2,137.5 2,068.7 Operating expenses (1,424.8) (1,475.6) Operating profit − £m 712.7
Slide 24: Wealth Management operating profit £129.9 million
Wealth Management operating profit £129.9 million £m 2021 2022 Net operating revenue 360.0 394.3 Share of profit of associates and joint ventures 14.3 4.0 Other net operating income 8.2 8.5 Net operating income 382.5 406.8 Operating expenses (254.2) (276.9) Operating profit − £m 128.3 129.9 24 2022
Slide 25: Compensation and non-compensation costs
Compensation and non-compensation costs Total operating expenses £m £m 2,000 Reduction in Cloud 1,752.5 compensation Travel and Acquisitions migration 1,750 1,679.0 costs FX impact marketing and China program Net inflation 1,500 14 631.3 15 542.7 23 1,250 18 (15) 19 1,000 Investing for growth Post-C
Slide 26: Total costs
Total costs 2021 2022 Operating expenses (£m) 1,679.0 1,752.5 Central costs (£m) 53.6 48.8 1,732.6 1,801.3 Operating expenses ratio Operating expenses ratio 67% 71% = operating expenses divided by net operating income Headcount 5,750 6,434 Operating compensation ratio Operating compensation ratio1 4
Slide 27: Reconciliation of operating profit to profit before tax 2021
£m Asset Management Wealth Management Adjustments Restated WM1 Group Total Net operating revenue 2,043.1 420.8 (60.8) 360.0 – 2,403.1 Net gain/(loss) on financial instruments and other income 21.0 11.7 (3.8) 7.9 48.6 77.5 Share of profit of associates and joint ventures 73.9 1.2 13.1 14.3 – 88.2 Net
Slide 28: Reconciliation of operating profit to profit before tax 2022
£m Asset Management Wealth Management Group Total Net operating revenue 1,967.1 394.3 – 2,361.4 Net gain/(loss) on financial instruments and other income 33.8 8.7 (6.4) 36.1 Share of profit of associates and joint ventures 73.6 4.0 – 77.6 Net income 2,074.5 407.0 (6.4) 2,475.1 Operating expenses (1,
Slide 29: Thank you
Schroders THANK YOU