By Jaime Llinares Taboada
Schroders PLC said Thursday that its profit before tax fell 2.3% in 2020, although assets under management reached a record high.
The FTSE 100 asset manager made a pretax profit of 610.5 million pounds ($851.6 million) last year, down from GBP624.6 million for 2019.
Assets under management as at Dec. 31 increased to GBP574.4 billion, a new high, and up from GBP500.2 billion a year earlier.
The board declared a final dividend of 79 pence a share, bringing the full-year payment to 114 pence--unchanged from 2019 and 2018.
"The group is increasingly balanced towards the higher growth areas of private assets & alternatives, solutions and wealth management. We believe the macro-economic environment will accelerate demand for these areas going forward and we are well positioned to service clients around the world with the solutions they need," Schroders said.
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