Schroders, an international asset management and private banking group, has reported a slight rise in its profit before tax at £407.3 million for the year ended 31 December, 2011 from £406.9 million a year earlier.

The group's reported profit per share is at 115.9 pence and it has declared a full-year dividend of 39.0 pence per share.

Since the year-end, the attitude of the markets has improved as investors have seen signs of progress in the resolution of some of the Eurozone problems. Retail investor demand has recovered somewhat and Schroders has generated positive net flows in both institutional and intermediary. However, the group expects the financial markets to remain volatile due to the long-term process of reducing government debt and restrained economic growth.

Asset management net revenue of the group increased to £1,041.5 million despite a decline in performance fees to £36.6 million. The group's net new business remained at £3.2 billion but is much less compared to £27.1 billion in 2010; however the total assets under management for the year ended were at £187.3 billion.