Schroders share price: Group looking to expand US business

By: Anton Aleksandrov
Anton Aleksandrov
Anton is a freshly graduated economist from the States with passion for the world of finance. He is one… read more.
on Apr 8, 2014
Updated: Oct 21, 2019 Tuesday, April 8: Schroders (LON:SDR) is planning to hire more investment staff for its multi-asset team in the US as the FTSE 100 asset management and private banking group looks to double the revenue it earns in the world’s biggest economy. As of 10.40 BST, Schroders’ shares were trading 36.00p or 1.35 percent lower at 2,634.00p.

Karl Dasher, chief executive of the North American unit, has indicated multi-asset investing as the area where the company has the greatest demand for new employees as it looks to grow its brand. Schroders is trying to persuade potential US clients that its strengths lie beyond niche areas like international equities and extend to fixed income, core equity and multi-asset allocations. The company has more than $9.3 billion (₤5.6 billion) of US assets under management, predominantly from insurance clients. It filed an application last month to the Securities and Exchange Commission for launching its first multi-asset retail funds in the US.

Schroders has $435.4 billion (₤261 billion) of assets under management worldwide, 20 percent of which are in multi-asset funds.
**Blanning replaces departing Howell as chief of commodities**
Last week Schroders’ head of commodities Robert Howell left the group and was replaced by emerging market debt chief, Geoff Blanning. A spokesperson for the company said Howell was leaving “to pursue opportunities outside of the financial services industry”.

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“Geoff was principally responsible for starting and developing Schroders’ commodity business in 2005 and has a considerable level of experience and success in investing in both emerging markets and commodities,” Schroders said in a statement. “There will be no change to the investment objective of the funds, and Geoff will continue to work with the two existing commodity fund managers, Rodolphe Roche and Paula Bujia.” Blanning has run the emerging markets debt desk for 15 years and has 28 years of investment experiences. He is also manager of the offshore $3.8 billion (₤2.3 billion) Schroder ISF Emerging Markets Debt Absolute Return fund.

**Analysts on Schroders**
JPMorgan Chase reaffirmed its ‘overweight’ rating on Schroders’ shares in a note sent to investors last Friday. It lifted its price target on the stock to 3,002.00p from 2,946.00p.
Eleven equity analysts rate Schroders as a ‘hold’ and nine are calling it a ‘buy’. The shares have an average rating of ‘hold’ and a consensus price target of 2,811.88p.
**As of 11.32 BST buy Schroders shares at 2,621.01p.**

**As of 11.32 BST sell Schroders shares at 2,620.99p.**

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