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RNS Number : 9598O  Schroders PLC  15 January 2026

Schroders plc

Trading Update

 

15 January 2026

This announcement contains inside information.

Schroders plc's (the Company) annual results for 2025 are expected to be ahead
of market expectations on adjusted operating profit. The Company is providing
an update on the key metrics underpinning this result, together with
preliminary results for assets under management (AUM) and net new business
(NNB). The information in this release is unaudited and based on preliminary
year-end reporting processes only and may therefore be subject to change.

Adjusted operating profit of at least £745 million for FY25 (FY24: £603.1
million).

 -  Adjusted net operating income of at least £2,580 million (FY24: £2,437.1
    million). Management fees benefitted in the fourth quarter from favourable AUM
    mix due to strong intermediary NNB. Improved income also reflects higher
    performance fees and carried interest, and positive market returns, including
    on seed investments.
 -  Adjusted operating expenses are expected to be broadly flat on prior year
    (FY24: £1,834.0 million), demonstrating good cost discipline and the further
    accelerated delivery against our transformation targets. We remain committed
    to our transformation target of £150 million annualised net savings by the
    end of 2027.

As a result, we expect to achieve an adjusted operating cost: income ratio of
c. 71% (FY24: 75%).

Group AUM of c. £825 billion including joint ventures (JVs) and associates
(FY24: £778.7 billion), c. £730 billion excluding JVs and associates
(FY24: £661.8 billion). Higher AUM reflects market growth, investment
performance, and positive NNB of c. £11 billion.

 -  Public Markets NNB of c. £3.9 billion, reflecting significantly improved
    flows versus the prior year across both intermediary and institutional
    channels.
 -  Schroders Capital NNB of c. £4.0 billion. Together with the first
    contribution of c. £0.5 billion NNB from Future Growth Capital, we have
    achieved c. £4.5 billion NNB in 2025 against our three-year target of £20
    billion cumulative NNB. Additionally, dry powder increased by c. £0.5 billion
    year-on-year to c. £4.7 billion.
 -  Wealth Management NNB of c. £3.4 billion, equivalent to a NNB rate of c.
    2.7%, against a backdrop of continued macro-economic and policy uncertainty.
    As a result, Benchmark NNB remained muted in the fourth quarter. Within
    Cazenove Capital, UK private client NNB remained within our target of 5-7%.
    However, we saw negative NNB from charities, where strong gross inflows were
    offset by a limited number of low margin outflows.

The Company's annual results for the year ended 31 December 2025 will be
announced, as planned, on 12 February 2026.

For further information, please contact:

 Investor Relations
 Simonetta Hofstetter  +44 (0)20 7658 3442  Simonetta.Hofstetter@Schroders.com (mailto:Simonetta.Hofstetter@Schroders.com)
 Katie Wagstaff        +44 (0)20 7658 1985  Katie.Wagstaff@Schroders.com (mailto:Katie.Wagstaff@Schroders.com)
 Global Communications and Media
 Julie Foster          +44 (0)20 7658 4953  Julie.Foster@Schroders.com (mailto:Julie.Foster@Schroders.com)
 Andy Pearce           +44 (0)20 7658 2203  Andy.Pearce@Schroders.com (mailto:Andy.Pearce@Schroders.com)

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) no. 596/2014 (as incorporated into UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). On the publication of this
announcement via a regulatory information service, this inside information is
now considered to be in the public domain.

The person responsible for arranging the release of this announcement is Kate
Graham, Group Company Secretary.

 

Forward looking statements

This announcement and the Schroders website may contain forward-looking
statements with respect to the financial condition, performance and position,
strategy, results of operations and businesses of the Schroders group. Such
statements and forecasts involve risk and uncertainty because they are based
on current expectations and assumptions but relate to events and depend upon
circumstances in the future; you should not place reliance on them. Without
limitation, any statements preceded or followed by or that include the words
'to deliver', 'targets', 'plans', 'sees', 'believes', 'expects', 'aims',
'confident', 'will have', 'will be', 'will ensure', 'likely', 'estimates',
'foresee' or 'anticipates' or the negative of these terms or other similar
terms are intended to identify such forward-looking statements. There are a
number of factors that could cause actual results or developments to differ
materially from those expressed or implied by forward-looking statements and
forecasts. Forward-looking statements and forecasts are based on the
Directors' current view and information known to them at the date of this
statement. The Directors do not make any undertaking to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Nothing in this announcement or on the Schroders website
should be construed as a forecast, estimate or projection of future financial
performance.

 

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