Finance
Schroders Shares Tumble Most in Four Years After Profit Miss
- Analysts flag lower revenue and a miss in performance fees
- Assets under management rise to £774 billion as of end-June
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Shares of Schroders Plc plunged the most in more than four years after the UK’s largest standalone asset manager reported pretax profit that fell short of expectations in the first half of the year.
The London-based firm said in a statement on Thursday that adjusted pretax profit in the six months through June remained almost flat from a year earlier at £276.3 million ($353 million), and well below an estimate of £333 million.