Schroders: is this family firm a classic income buy?
Family-owned asset management group Schroders hasn’t had an especially strong few years as pressure has built on its industry. The dividend yield has risen to 3.7% as the share price has fallen. Could this prove a buying opportunity?
Fund managers are under unprecedented pressure to justify their performance and their fees in the face of a growing onslaught from passive funds. Uncertain market conditions are not helping, shaking investor confidence and leading to fund outflows. There is also a growing awareness that closet tracker funds - active funds which do little more than track the FTSE 100 - are a rip-off, easily avoided by buying passive index funds.
In any such shakeout, there are always winners and losers. The failure of Neil Woodford is an extreme example of what can go wrong. But we believe long-term winners will emerge…
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