{"id":4008,"date":"2006-02-21T00:00:00","date_gmt":"2006-02-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"schroders-2005-profits-rise-makes-acquisition","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/02\/2006\/schroders-2005-profits-rise-makes-acquisition.html","title":{"rendered":"Schroders&#8217; 2005 profits rise, makes acquisition"},"content":{"rendered":"<p>Reuters.uk &#8211; Investment manager Schroders (SDR.L: <a href=\"http:\/\/today.reuters.co.uk\/stocks\/Quote.aspx?symbol=SDR.L\">Quote<\/a>, <a href=\"http:\/\/today.reuters.co.uk\/stocks\/CompanyProfile.aspx?symbol=SDR.L\">Profile<\/a>, <a href=\"http:\/\/today.reuters.co.uk\/stocks\/ResearchReports.aspx?symbol=SDR.L\">Research<\/a>) reported an 18.5 percentrise in pretax profit for 2005 and said on Tuesday it was buying a hedge fund business for up to $142 million.<\/p>\n<p>  Profits before tax rose to 250.7 million pounds from 211.6 million in 2004. The figure includes a gain of 20.4 million pounds from the termination of an outsourcing contract with JP Morgan (JPM.N:  <a href=\"http:\/\/today.reuters.co.uk\/stocks\/Quote.aspx?symbol=JPM.N\">Quote<\/a>, <a href=\"http:\/\/today.reuters.co.uk\/stocks\/CompanyProfile.aspx?symbol=JPM.N\">Profile<\/a>, <a href=  \"http:\/\/today.reuters.co.uk\/stocks\/ResearchReports.aspx?symbol=JPM.N\">Research<\/a>) last year.<\/p>\n<p>  Analysts had forecast profit before tax and one-off items, which would include the JP Morgan payment, of 224.1 million pounds.<\/p>\n<p>  The fortunes of Schroders, one of the country&#8217;s oldest independent fund management firms, have recovered since stocks rebounded in 2003.<\/p>\n<p>  Improved markets helped drive Schroders&#8217; revenues, and gross profit margins &#8212; revenues as a percentage of assets &#8212; rose to 51 basis points compared with 46 bps in 2004.<\/p>\n<p>  In a separate announcement, Schroders said it had agreed to buy 100 percent of NewFinance Capital, a London-based manager of funds of hedge funds. It will pay a $101 million (58 million pounds)  consideration and up to a further $41 million contingent on meeting revenue targets.<\/p>\n<p><a href=\"http:\/\/news.google.com\/url?sa=T&amp;ct=us\/7-0&amp;fd=R&amp;url=http:\/\/today.reuters.co.uk\/news\/newsArticle.aspx%3Ftype%3DbusinessNews%26storyID%3D2006-02-21T080031Z_01_WLA7829_RTRUKOC_0_UK-FINANCIAL-SCHRODERS.xml&amp;cid=0\">ReadComplete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters.uk &#8211; Investment manager Schroders (SDR.L: Quote, Profile, Research) reported an 18.5 percentrise in pretax profit for 2005 and said on Tuesday it was buying a hedge fund business for up to $142 million. Profits before tax rose to 250.7 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4008","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4008"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4008\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}