Schroders Plc · LSE:SDR
Schroders — Shareholder Meeting (May 2013)
23 slides from Schroders's shareholder meeting presentation, May 2, 2013
Slide 1: 2013 Annual General Meeting
2013 Annual General Meeting Michael Dobson Chief Executive 2 May 2013
Slide 2: Performance 2012
Performance 2012 Investing for long-term growth Profit before tax £360.0m (2011: £407.3m) Earnings per share 104.7p (2011: 115.9p) Dividend increased 10% to 43.0p (2011: 39.0p) Investment performance: 71% outperforming over three years Net new business: £9.4bn (2011: £3.2bn) Assets under
Slide 3: Diversified by channel, region and asset class
Diversified by channel, region and asset class Net new business £9.4bn; Institutional AUM £123.7bn; Intermediary AUM £72.0bn £bn By channel By region By asset class 5 6 5 5 4 4 4 3 3 3 2 2 2 1 1 1 0 0 0 -1 -1 -1 -2 -2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 UK Europe Equities Multi-Asset Institutional I
Slide 4: Private Banking
Private Banking Assets under Management: £16.3bn Underlying revenues down 10% to £102.3m (2011: £114.3m) Underlying costs down 12% to £79.4m (2011: £90.5m) Underlying profit down 4% to £22.9m (2011: £23.8m) Provisions: £7.9m loan losses principally commercial property £3.2m potential liabili
Slide 5: Share price performance 2012
Share price performance 2012 Up 28% 180 170 160 150 140 130 120 110 100 90 80 Jan 12 Jun 12 Dec 12 Schroders FTSE 100 FTSE UK Financial Services 4
Slide 6: Proposed acquisition of Cazenove Capital
Proposed acquisition of Cazenove Capital Scale in Private Banking, complementary skills in Asset Management End March 2013 AUM: £19.1bn Schroders AUM: £236.5bn 31 March 2013 17.3 Significant increase in scale and capabilities in Wealth Management 82.4 Complementary skills and strategies in UK
Slide 7: Private Banking
Private Banking Creating scale in a core business Pro forma 2012 revenue up 78% to £167.8m Pro forma March 2013 assets under management £30.4bn Material extension of client base Financial planning capability Strengthened client service proposition A market leader in charities Strong br
Slide 8: Investment Funds
Investment Funds Complementary skills and strategies in Asset Management £6.0bn of UK Intermediary AUM Highly-rated portfolio managers – UK Equities – European Equities – Multi-manager – Fixed Income Complementary strategies Opportunity to leverage Schroders’ distribution strengths Source: A
Slide 9: Q1 2013 Interim Management Statement
Q1 2013 Interim Management Statement Strong start to the year Profit before tax up 20% to £115.0m (Q1 2012: £95.5m) Asset Management profit before tax £105.2m (Q1 2012: £88.6m) Private Banking profit before tax £4.9m (Q1 2012: £6.4m) Net new business £5.6bn (Q1 2012: £1.6bn) Assets under manag
Slide 10: Share price performance 2013
Share price performance 2013 Up 39% YTD 180 170 160 150 140 130 120 110 100 90 80 Jan 12 Jun 12 Dec 12 Apr 13 Schroders FTSE 100 FTSE UK Financial Services 9
Slide 11: Outlook and priorities 2013
Outlook and priorities 2013 Confidence in long-term growth Outlook Expect some slowdown after strength of Q1 Leverage our competitive position – performance – product range – distribution strengths – global footprint Continued growth in Intermediary and Institutional Integration of Cazenove
Slide 12: 2013 Annual General Meeting
2013 Annual General Meeting Andrew Beeson Chairman 2 May 2013
Slide 13: Resolution 1
Resolution 1 That the Directors’ report and the accounts for the year ended 31 December 2012 be received and adopted 12
Slide 14: Resolution 2
Resolution 2 That a final dividend of 30.0 pence per share be declared 13
Slide 15: Resolution 3
Resolution 3 That the Remuneration report be approved 14
Slide 16: Resolution 4
Resolution 4 That Nichola Pease be elected as a Director 15
Slide 17: Resolution 6
Resolution 6 That Andrew Beeson be re-elected as a Director 16
Slide 18: Resolution 5 and Resolutions 7 to 13
Resolution 5 and Resolutions 7 to 13 5. That Ashley Almanza be re-elected as a Director 7. That Luc Bertrand be re-elected as a Director 8. That Robin Buchanan be re-elected as a Director 9. That Michael Dobson be re-elected as a Director 10. That Lord Howard of Penrith be re-elected as a Director 1
Slide 19: Resolutions 14 and 15
Resolutions 14 and 15 15. That PricewaterhouseCoopers LLP be re-appointed as auditors of the Company 16. That the Directors be authorised to fix the remuneration of the auditors 18
Slide 20: Resolution 16
Resolution 16 That the Directors be authorised to issue non-voting ordinary shares or to grant rights to subscribe for, or convert securities into, non-voting ordinary shares 19
Slide 21: Resolution 17
Resolution 17 That the Company be authorised to purchase non-voting ordinary shares 20
Slide 22: Resolution 18
Resolution 18 That a general meeting other than an annual general meeting may be called on not less than 14 days’ notice 21
Slide 23: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Cazenove Capital and Schroders and certain plans and objectives of Schroders with respect thereto. These forward- looking statements