Schroders PLC

JPMorgan Chase has secured the first mandate to provide blockchain infrastructure for a regulated tokenised US dollar money market fund share class, launched by Schroders. Schroders is the first global asset manager to receive approval for a tokenised share class in a US dollar money market fund using J.P. Morgan's Kinexys multi-chain tokenisation system. The launch moves J.P. Morgan's blockchain business from internal testing to real client deployment with regulatory approval in place. The project is presented as a step toward greater efficiency and automation in institutional fund flows running through J.P. Morgan's digital infrastructure.

Some global bond investors are shifting toward markets like Australia and Europe as doubts grow over the Federal Reserve's ability to control inflation, adding to pressure on Treasuries. Schroders Plc, which oversees $1.1 trillion, is increasing bearish Treasury positions and buying front-end government bonds in Australia, the UK and the eurozone, betting those front-end yields will fall while shorting US five- and ten-year notes. Gama Asset Management's Rajeev De Mello is adding positions in Australia, South Korea, Singapore and Norwegian bonds while trimming longer-dated US Treasuries. BlackRock's Navin Saigal said the Fed's willingness to let markets do more heavy lifting means investors are not compensated enough for large directional rate bets and should focus on income and diversification, noting Chinese government bonds can act as a defensive anchor. Aberdeen Group's Jerome Tay added that falling correlations with US rates offer better diversification and that elevated inflation uncertainty and reduced Fed clarity make Treasury investing more challenging than in previous cycles.

Schroders Wealth Management has announced a series of senior appointments across its investment, advisory and regional leadership teams. Grace Lavelle has been appointed chief investment officer, overseeing the next stage of development for the investment platform while continuing the firm's long-term investment approach. Caspar Rock, who spent the past ten years as CIO, has been named vice chair and will focus on key global client relationships. Wilaf Moore becomes chief executive of Cazenove Capital for the UK and Channel Islands, having advised some of the firm's largest clients over more than 25 years. Neil De Sousa joins from HSBC Global Private Banking as head of Middle East and Geneva, leading expansion in the Middle East and strengthening links with the wider international wealth management platform. These appointments follow the recent naming of Dominic Emmerson as vice chair, leading the newly created global family office and wealth advisory business.

The UK's largest pension fund by membership, Nest, is planning to allocate up to £1 billion to venture capital by 2030 as part of a broader push to channel pension assets into private markets. The £68 billion fund, which serves more than 14 million members, will initially commit £200 million to Schroders Capital to support existing investments and provide fresh funding for late-stage companies. Nest's new VC portfolio includes AI video startup Synthesia and autonomous driving startup Wayve, which is set to conduct an $85 million employee share sale on the London Stock Exchange's Pisces platform. Nest aims to increase its private markets allocation to 30% of assets under management by 2030 from 19%, aligning with industry-wide efforts such as the Mansion House Compact, under which signatories increased unlisted equity investments from £800 million in 2024 to £1.6 billion last year.

Schroders has agreed to sell its UK integrated financial advice business Benchmark to European wealth management group Söderberg & Partners. The deal is part of Schroders' plan to simplify its wealth management operations, centering on Cazenove Capital in the UK and Schroders Wealth Management internationally. Söderberg & Partners, which has £108 billion in assets under advice, will also become a long-term asset management partner to Schroders. The transaction is expected to provide Benchmark with new ownership and strategic support for its next stage in the UK advice market.

Millennium International Management LP has disclosed a 3.559% interest in Schroders plc, representing 57,318,671 ordinary shares via cash-settled derivatives. The disclosure, made under Rule 8.3 of the Takeover Code, reflects positions held as of 26 June 2026. On that date, Millennium executed multiple equity swap transactions, including increasing a long position by 6,319,321 shares at 5.86 GBP and closing a long position of the same size at the same price. The firm reported no other relevant securities or short positions.

Schroders Capital CIO Nils Rode argues that the highest-value use of AI in private equity is not cost reduction but improving the return distribution by finding more winners and avoiding write-offs. The firm, which manages $112 billion in assets, published a white paper showing that roughly one in four buyout deals delivers a gross IRR above 50% over a typical four-year hold, while one in 10 returns nothing, making outlier avoidance critical. Schroders Capital has developed three proprietary AI tools, including a GP screening tool called the Long/Short List and two AI agents, GAiiA and Vicky, which assist with data room analysis, due diligence, and investment memo challenges. Rode emphasizes that these systems will never have full autonomy and will always assist humans, who retain context and relationship insights that AI lacks.

Retirees are spending 16% of their total monthly income on healthcare costs, according to Schroders' 2026 US Retirement Survey. The survey found that 58% of retirees were caught off guard by the expenses, having expected Medicare to cover more. The average monthly Medicare premium for 2026 is $202.90, up 9.7% from $185 in 2025, while Medicare Part D prescription drug coverage rose 9.5% from last year. Schroders Head of U.S. Defined Contribution Deb Boyden noted that investing for retirement and investing in retirement are fundamentally different challenges, with retirees facing an affordability crisis on fixed assets.

AM Best has assigned a Long-Term Issue Credit Rating of 'aa' (Superior) to the $2 billion 6.05% fixed rate surplus notes due 2056 issued by Teachers Insurance and Annuity Association of America. The outlook is stable. The issuance is for general corporate purposes, which may include part of the purchase financing related to TIAA company Nuveen's cash acquisition of Schroders plc announced in February 2026. AM Best expects the transaction will increase adjusted leverage at TIAA to approximately 15% pro-forma due to the purchase financing terms.

A new survey from Schroders shows that 79% of North American institutional investors expect more market volatility over the next 12 months, driven by geopolitical escalation, commodity price shocks, and AI disruption. Against this backdrop, 82% expressed confidence that active management can help achieve investment objectives, with 39% increasing active allocations specifically to reduce concentration risk. The survey also found that 57% of investors now evaluate income opportunities holistically across equities, fixed income, and private markets, while private equity allocations are expected to rise from 90% to 93% over the next 12 to 24 months. The findings are part of Schroders' annual Global Investor Insights Survey, which polled 207 North American institutional investors among 760 institutional respondents worldwide.