Asset manager Schroders (SDR.L) has reported a surge in pre-tax profits rising from £137.5 million in 2009 to £406.9 million during 2010.

The greatest rise came from its asset management division, which  saw pre-tax profits rise from £174.7 million in 2009 to £381 million. Its private banking arm saw a £10 million drop in pre-tax profits from £20.1 million in 2009 to £10.1 million last year.

During 2010, the company saw net inflows of £27.1 billion, a £12.1 billion increase on 2009, while funds under management grew from £148.4 billion to £196.7 billion.

In a management statement, the asset manager stated that it had taken advantage from volatility in the market thanks to its broad range of investment products.

The company announced a full-year dividend of 37 pence per share up from the 31 pence per share declared in 2009.