Profits before tax at Schroders have risen 14 per cent to just under £150million in the first three months of the year.

The company, an IFP corporate member, released its results this morning, along with its interim management statement covering the period up to 31 March 2015.

Profit before tax and exceptional items in Q1 of last year was £130.7m. Schroders also reported net inflows £5.1billion for Q1 this year.

Assets under management stood at £319.5bn compared to £300bn as of 31 December 2014.

Asset management net revenue was £348.5m – which rose from £306.2m in the same period last year. This was including performance fees of £1.7m – down from £6.3m in Q1 of 2014.

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Michael Dobson, chief executive, said: "Schroders' strong performance in 2014 continued in the first quarter of this year, with profit before tax up 14 per cent. to £149.6m and assets under management up 7 per cent to £319.5bn since the start of the year.

"We generated net new business of £5.1bn with net inflows in institutional, intermediary and wealth management."

Net inflows of £4.9bn comprised £2.0bn in institutional and £2.9bn in intermediary, and assets under management at the end of March were £286.9bn – a rise from £268.9bn at the end of December.

Wealth management net revenue was £52.2m compared to the same period last year when it was £50.3m. Net inflows were £0.2bn and assets under management at the end of March were £32.6bn – up from the 31 December level of £31.1bn.

The firm told Financial Planner magazine in the latest issue: "We're delighted to be supporting the Financial Planning profession through our corporate membership of the IFP and look forward to engaging with IFP members throughout the year.

"The combination of Schroders' long-term stability, size and strength in every UK client group gives us a distinctive positioning in the market."