Schroders (SDR) Q3 2025 TU earnings summary

Executive summary

• Group assets under management (AUM) rose 5% quarter-on-quarter to a record £816.7 billion, driven by net inflows and supportive markets.

• Net new business (NNB) excluding JVs and associates was £4.9 billion for Q3 2025, up from £0.3 billion in Q3 2024; year-to-date NNB reached £9.4 billion, reversing outflows from the prior year.

• Strategic initiatives included exiting Indonesia and Brazil, launching active ETFs in Europe, and regaining full ownership of Cazenove Capital.

Financial highlights

• Currency movements increased Group AUM by £8.4 billion in the quarter.

• Closure of the Real Estate business in Munich reduced AUM by £1.4 billion; Wealth Management AUM increased by £0.3 billion due to the Robertson Baxter acquisition.

Outlook and guidance

• Continued focus on active management and scalable growth areas, with a strategy to return to profitable growth and build an efficient, future-ready business.

• Expectation of ongoing positive net new business and strong client investment performance.