As of 30 September, the total value of assets under management (AUMs) was £450.8bn, up 2.7% year-on-year and 1.4% quarter-on-quarter.
“Schroders' share price and investment case remains in a range where we struggle to see why investors would choose to hold the most ‘defensive’ asset manager in the sub-sector,” said Shore Capital, hinting the fund manager has a stronger name than momentum.
The broker reiterated the “hold” recommendation, saying it will be changed only if Schroders falls to “extreme valuation levels” such as when it fell below 2,000p on the morning of the 2016 EU referendum result.
Broker UBS said the results were 1% higher than their estimates, which were 1-2% below consensus.
Shares were up 1% to 2,962p on Tuesday morning.