Whether Schroders will regain its coveted place in the FTSE 100 in Wednesday’s quarterly index reshuffle hangs in the balance after a week in which £250 million has been wiped off its stock market value.
However, on the evidence of yesterday’s full-year figures it is a case of when, not if. After several years of turbulence, in which Schroders has suffered significant fund outflows and the defection of a couple of star managers, the £3.1 billion asset manager appears to have recovered its poise. Funds under management were up by a better than expected 5 per cent, at £125.3 billion, while pretax profits – which at £290 million were up 26 per cent – were also ahead of forecast. The kicker appears to have come