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Schroders PLC (SDR)

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monabri
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Schroders PLC (SDR)

#216204

Postby monabri » April 19th, 2019, 1:40 pm

Note: I refer to Schroders using the EPIC code "SDRC" recognising that this is the non-voting (NV) version of the share. The share that confers voting rights uses the EPIC "SDR", however, the voting rights come at a cost (or, reduced yield).

" Shareholders in Schroders have been urged to block the reappointment of Michael Dobson as chairman of the FTSE 100 listed fund manager, as well as the election to the board of the latest member of the controlling Schroder family, by an influential proxy adviser."

" Glass Lewis has recommended votes against Mr Dobson and Leonie Schroder at the group’s annual general meeting on May 2 due to her inexperience."

"Glass Lewis said it did not believe Ms Schroder had the skills or experience necessary to hold a board position and that Mr Dobson had failed in his role as head of the board’s nomination committee, which identifies future directors."


https://www.ft.com/content/b1b18f4c-61f ... cd5d43599e
Last edited by csearle on March 2nd, 2023, 8:37 am, edited 1 time in total.
Reason: Change of EPIC

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Re: Schroders PLC (SDR)

#216323

Postby dspp » April 20th, 2019, 11:31 am

monabri wrote:Note: I refer to Schroders using the EPIC code "SDRC" recognising that this is the non-voting (NV) version of the share. The share that confers voting rights uses the EPIC "SDR", however, the voting rights come at a cost (or, reduced yield).

" Shareholders in Schroders have been urged to block the reappointment of Michael Dobson as chairman of the FTSE 100 listed fund manager, as well as the election to the board of the latest member of the controlling Schroder family, by an influential proxy adviser."

" Glass Lewis has recommended votes against Mr Dobson and Leonie Schroder at the group’s annual general meeting on May 2 due to her inexperience."

"Glass Lewis said it did not believe Ms Schroder had the skills or experience necessary to hold a board position and that Mr Dobson had failed in his role as head of the board’s nomination committee, which identifies future directors."


https://www.ft.com/content/b1b18f4c-61f ... cd5d43599e


"The 44-year-old has not previously worked in financial services but is director of the Schroder Family Trust"

mmmmm ....... difficult call

REJECT

- dspp

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Re: Schroders PLC (SDR)

#216330

Postby Dod101 » April 20th, 2019, 11:52 am

Personally I do not think that Michael Dobson is to blame here. He has presumably had a request from the 48% shareholder nominating (or asking for or whatever the right expression is) their man or in this case woman. What is he supposed to do?

I doubt from all that I have read, that the lady is much qualified for her role and in normal circumstances she would not be considered but in this case? I appreciate that Schroders is a PLC and as such must abide by the listing rules but is this actually in breach of them? I would have thought not because surely they would have checked that. A major shareholder must have the ability to nominate a director of their choice.

Anyone buying Schroder shares knows that they must go along with the controlling shareholder in the same that when they buy Caledonia IT they are going along with the wishes of the Cayzers. For many of course that is the point of buying.

Dod

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Re: Schroders PLC (SDR)

#216395

Postby scrumpyjack » April 20th, 2019, 6:27 pm

There is a lot to be said having a family director. They tend to have a much longer term perspective than a professional 'city' director who may only be with the company for a few years and may be more motivated by their share incentive scheme than by the long term well being of a company hundreds of years old.

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Re: Schroders PLC (SDR)

#243762

Postby monabri » August 12th, 2019, 2:15 pm

Half year report issued Aug 1st 2019.

https://www.londonstockexchange.com/exc ... 71572.html


Net income before exceptional items down 5% to £1,032.6 million (H1 2018: £1,086.1 million)

Profit before tax and exceptional items down 14% to £340.4 million (H1 2018: £397.1 million)

Profit before tax down 14% to £319.3 million (H1 2018: £371.1 million)

Assets under management up 9% to £444.4 billion (31 December 2018: £407.2 billion)

Net outflows of £1.2 billion (H1 2018: net inflows of £1.2 billion)

Around £45 billion of assets from the Lloyds Banking Group mandate due to fund in the second half of the year

Interim dividend unchanged at 35 pence per share (H1 2018: 35 pence per share)

The Board has declared an interim dividend of 35.0 pence per share, which is unchanged from the interim dividend in 2018. The dividend will be payable on 26 September 2019 to shareholders on the register at 23 August 2019

(XD 22 August )

Like SLA, asset managers seems to be having a tough time but holding the dividend for the time being.

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Re: Schroders PLC (SDR)

#243765

Postby Dod101 » August 12th, 2019, 2:28 pm

monabri wrote:Like SLA, asset managers seems to be having a tough time but holding the dividend for the time being.


Why do you say 'holding the dividend for the time being'? Is there any indication of a cut? Unlike SLA, they have a new mandate for £45 billion which is not exactly insignificant, SLA's loss, Schroder's gain.

Dod

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Re: Schroders PLC (SDR)

#243779

Postby monabri » August 12th, 2019, 3:23 pm

Dod,
"Holding" as opposed to "increasing" .

I' m looking at the numbers which indicate income/profit down and the slowing growth rate in the divi in recent years compared to the figures over the last 5,10 and 15 years.

https://www.dividenddata.co.uk/dividend ... y?epic=SDR

Whilst there is no explicit indication of a cut , I was hoping for some increase in dividend. The "asset managers" (I have interests in PHNX, SLA and, to a lesser extent Jupiter) all seem to be freezing rather than growing their divi.


(I did make a point of highlighting the c.10% increase in assets under management !).

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Re: Schroders PLC (SDR)

#243803

Postby Dod101 » August 12th, 2019, 4:22 pm

monabri wrote:Dod,
"Holding" as opposed to "increasing" .

I' m looking at the numbers which indicate income/profit down and the slowing growth rate in the divi in recent years compared to the figures over the last 5,10 and 15 years.

https://www.dividenddata.co.uk/dividend ... y?epic=SDR

Whilst there is no explicit indication of a cut , I was hoping for some increase in dividend. The "asset managers" (I have interests in PHNX, SLA and, to a lesser extent Jupiter) all seem to be freezing rather than growing their divi.


(I did make a point of highlighting the c.10% increase in assets under management !).


I read your comment as holding rather than cutting. Good. Schroders were pretty gloomy about their dividend at the stage of the Finals for 2018 so I am not really surprised at them holding the dividend at the interim stage and the new AUM will presumably in time increase their profit, but asset managers in general are under pressure to reduce fees and the ongoing loss of actively managed funds to passive funds. Schroders I think area much better outfit than SLA.

Dod

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Re: Schroders PLC (SDR)

#329563

Postby idpickering » July 30th, 2020, 7:26 am


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Re: Schroders PLC (SDR)

#347860

Postby idpickering » October 15th, 2020, 7:07 am


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Re: Schroders PLC (SDR)

#380121

Postby Dod101 » January 24th, 2021, 12:52 am

Not sure where this observation should be posted.

I hold shares in Schroders and Caledonia Investments and recently noted that one Claire Fitzalan Howard, already a director of Schroders, had been appointed to the Caledonia Board so I decided to take a look at her background, only to find that the death, reported last weekend, of George Mallinckrodt indirectly gave me the answer. Mallinckrodt was chairman of Schroders from 1984 until about 2008. He had married the bosses daughter, which always helps, but must have been competent anyway since the Schroder family own about 49% of Schroders. Claire Fitzalan Howard (now married into the family of the Duke of Norfolk) turns out to be his daughter. Interesting, the interconnections and the ambitions of the Cayzer family (who are not short of a couple of dollars themselves)

I bought into both companies for the same reason; to follow the money. It seems to work.

Dod

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Re: Schroders PLC (SDR)

#380125

Postby PinkDalek » January 24th, 2021, 1:31 am

Dod101 wrote:Not sure where this observation should be posted.


See viewtopic.php?f=94&t=16288&ilimit=s (if posting at Company Share news (LSE Main Market) it should be on an existing topic for the company if there is one, which is here viewtopic.php?f=94&t=17314)

Will report for you ...

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Re: Schroders PLC (SDR)

#380146

Postby Dod101 » January 24th, 2021, 8:44 am

Thanks PD, so I got the correct Board, but just did not add to an existing thread. This could of course mean that threads could reach the ridiculous length of the one on Musk. How any new participant could possibly participate there without some poster saying this was posted 25 pages ago or something I do not know because few are going to read the entire thread to get the gist of what is being discussed. I did try.

Dod
Moderator Message:
Correctly using this forum really isn't that difficult. It is explained in the guidelines and has been explained to you before (more than once I think).

It doesn't matter how long the thread gets because the nature of this board is that it contains news, so anything a long way back in the thread will be old news. Just navigate to the latest posts for new news (and the other end for old news).

It also keeps it all together so there is one place to visit for one company rather than it being distributed about.

Thanks - Chris
Last edited by csearle on January 24th, 2021, 9:19 am, edited 1 time in total.
Reason: To add a mod box

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Re: Schroders PLC (SDR)

#392116

Postby idpickering » March 4th, 2021, 9:23 am


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Re: Schroders PLC (SDR)

#407876

Postby idpickering » April 29th, 2021, 7:30 am

Q1 2021 update

Schroders plc today confirms its total assets under management including JVs and associates at 31 March 2021 of £672.0 billion.


https://www.investegate.co.uk/schroders ... 00089760W/

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Re: Schroders PLC (SDR)

#431099

Postby idpickering » July 29th, 2021, 8:00 am

Half-year results to 30 June 2021 (unaudited


-We delivered strong results with profit before tax and exceptional items of £407.5 million in the first six months of 2021.

-Client investment performance¹ remained strong with 87% of assets outperforming their relevant comparator over one year, 75% over three years and 82% over five years, demonstrating the value of our active investment management approach.

-We generated net new business of £17.9 billion, as assets under management increased 6% to a new high of £700.4 billion. Excluding joint ventures and associates, we generated net new business of £10.5 billion and assets under management reached £602.4 billion.

-Given the strong performance of the business, the Board has recommended an interim dividend of 37 pence per share, which represents a 6% increase.

And later

The Board has declared an interim dividend of 37.0 pence per share (interim dividend 2020: 35.0 pence), amounting to £101.3 million (H1 2020: 95.6 million) in total. The dividend will be paid on 23 September 2021 to shareholders on the register at 20 August 2021.


https://www.investegate.co.uk/schroders ... 00068244G/

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Re: Schroders PLC (SDR)

#431121

Postby Dod101 » July 29th, 2021, 8:43 am

These look like excellent results and a nice increase in the dividend as well.

Incidentally, looking at monabri's opening post for this thread (dated 19 April 2019), does it not just show that sometimes these formulaic governance issues are completely irrelevant? As Deng Xiaoping said once, 'It does not matter whether the cat is black or white as long as it kills mice'.

Dod

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Re: Schroders PLC (SDR)

#450917

Postby idpickering » October 18th, 2021, 7:12 am

Q3 2021 update

Schroders plc today confirms its total assets under management (AUM) at 30 September 2021 of £716.9 billion.


https://www.investegate.co.uk/schroders ... 00052849P/

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Re: Schroders PLC (SDR)

#453113

Postby Steveam » October 26th, 2021, 9:42 am

Acquisition by Schroders. The market seems happy enough. Steady as she goes but needs to up the game (holding dividend is not quite good enough).

https://otp.investis.com/clients/uk/sch ... id=1520551

Best wishes,

Steve

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Re: Schroders PLC (SDR)

#466183

Postby monabri » December 15th, 2021, 9:33 pm

https://news.sky.com/story/amp/schroder ... l-12496627

"The FTSE-100 fund manager is close to announcing the acquisition of a 75% stake in Greencoat Capital, which manages a number of solar, wind and other renewables funds"

"Greencoat Capital, which has about £6bn under management, runs funds including London-listed Greencoat UK Wind and Greencoat Renewables."


(Posted under SDRC...See opening first post above).


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