Schroders
2009 Q3 IMS
trusted heritage
advanced thinking
Data Pack
Contents
Page
Funds under management (FUM)
FUM by client domicile
Currency profile of FUM
FUM diversification
Asset Management business flows
Income and cost metrics for the Group
Net revenue margins
Forward-looking statements
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Funds under management
£138.9 billion at end September 2009
£bn
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Institutional
Intermediary
Private Banking
Total
31 December 2008
59.6
38.9
11.7
110.2
Net flows
2.4
6.2
0.1
8.7
Market movements, foreign
exchange impact & other
10.8
8.9
0.3
20.0
30 September 2009
72.8
54.0
12.1
138.9
FUM by client domicile
• £87.2 billion funds under management from clients outside the UK
UK
£51.7bn
North
America
£12.8bn
South
America
£4.1bn
Continental
Europe
£34.3bn
Middle
East
£2.8bn
£6.1bn China joint venture
China joint venture funds under management are not reported within Group funds under management
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Asia
Pacific
£33.2bn
Currency profile of FUM
Funds under management £138.9 billion
17%
34%
5%
4%
16%
24%
GBP
4
EUR
USD
JPY
CHF
Other
Total FUM
Funds under management £138.9 billion
By channel
By product
By region
9%
9%
12%
52%
37%
17%
48%
24%
39%
12%
27%
Institutional
Private Banking
Intermediary
UK
Asia Pacific
Continental Europe
Americas
5
14%
Equities
Alternatives
Private Banking
Fixed Income
Multi-asset
Asset Management FUM by channel and product
Intermediary FUM £54.0bn
Institutional FUM £72.8bn
11%
15%
8%
48%
25%
21%
60%
12%
Equities
Multi-asset
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Fixed Income
Alternatives
Asset Management FUM by channel and region
Institutional FUM £72.8bn
Intermediary FUM £54.0bn
7%
18%
26%
42%
37%
18%
30%
22%
UK
Asia Pacific
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Continental Europe
Americas
Asset Management FUM Analysis
Fixed Income FUM £19.9bn
Equities FUM £67.2bn
15%
17%
27%
29%
19%
32%
24%
37%
UK
Asia Pacific
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Continental Europe
Americas
Alternatives Breakdown
Alternatives FUM £16.6bn
7%
7%
42%
20%
24%
Property
Emerging
market debt
Commodities
Fund of
hedge funds
Private equity
fund of funds
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Asset Management business flows
Q3 2008 YTD
£bn
10
Q3 2009 YTD
Inflows
Outflows
Net
Inflows
Outflows
Net
Institutional
9.3
(11.6)
(2.3)
12.5
(10.1)
2.4
Intermediary
9.5
(12.6)
(3.1)
11.8
(5.6)
6.2
Total Asset Management
18.8
(24.2)
(5.4)
24.3
(15.7)
8.6
Income and cost metrics for the Group
Compensation costs : operating revenues
45%
48%
– Compensation costs : operating revenues = total
Group compensation costs divided by net revenue
for the Asset Management and Private Banking
business segments
Group cost : income ratio
68%
72%
– Group cost : income ratio = total Group costs divided
by total Group income
Group cost : net revenue
71%
76%
– Group cost : net revenue = total Group costs divided
by total Group net revenue
Q3-08 Q3-09
Before exceptional items
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Net revenue margins – Asset Management
Asset Management net revenue £172.7 million
(Q3 2008: £183.3 million)
Q3 2008
FY 2008
Q3 2009
AM net revenue - £m
183.3
748.7
172.7
Average AM FUM - £bn
111.3
113.9
114.5
AM net revenue on average AM FUM
66bps
66bps
60bps
AM performance fees - £m
(1.3)
50.7
5.0
AM Performance fees on average AM FUM
0bps
4bps
1bps
AM costs - £m
127.4
518.6
122.2
AM costs on average AM FUM
46bps
46bps
43bps
55.8
230.1
50.5
20bps
20bps
18bps
AM operating profit - £m
AM operating profit on average AM FUM
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Net revenue margin quarterly progression
Excluding performance fees
104
101
100
92
92
81
61
64
Q1 2008
63
66
66
Q3 2008
Asset Management
13
70
55
Q2 2008
81
58
Q4 2008
55
59
Q1 2009
Private Banking
60
62
Q2 2009
Combined
59
61
Q3 2009
Forward-looking statements
These presentation slides may contain certain forward-looking statements with respect to the
financial condition and results of the operations and businesses of Schroders plc
These statements and forecasts involve risk and uncertainty because they relate to events and
depend upon circumstances that may occur in the future
There are a number of factors that could cause actual results or developments to differ
materially from those expressed or implied by those forward-looking statements and
forecasts. The forward-looking statements and forecasts are based on the Directors’ current
view and information known to them at the date of this presentation. 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 presentation should be
construed as a profit forecast
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