GLOBAL - Schroder Investment Management saw profits from its core asset management division more than double in the year ending September 30, up 67% to £46.1m.
Reporting its third quarter results, Schroders revealed profits had increased from £27.5m in the same period last year.
Asset management revenues for Q3 were £141.2m, compared to £103.9m in Q3 2004, while asset management costs also rose to £95.1m from £76.4m in the corresponding quarter last year.
Net business outflows during the quarter were £2.1bn, with £1.2bn being institutional money.
Most new institutional business came in the form of European equities and property against net outflows in UK balanced mandates and Asia-pacific equities.
Schroders said it expected to see opportunities for institutional, in both fixed income and equities, in the medium term.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.