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Introduction
We initiated our Buy rating on Schroders (OTCPK:SHNWF) in March 2019, focusing on the non-voting stock (Bloomberg ticker SDRC LN) trading in London as offering the best value. Since then, shares have returned 16.9% (in GBP), mostly in dividends, far out-performing the FTSE All-Share index:
In this article, we review our Buy case after H1 2020 results last week, reduce some of our