Schroders chief executive Michael Dobson has drawn a line under the departure of Richard Buxton – the UK equities star who left last year – after the UK-listed fund manager reported a strong fourth quarter for new business.

Schroders this morning released its figures for 2013, revealing a year in which performance fees almost trebled from £28.4 million to £80.2 million. This helped to lift pre-tax profits at the group by 24% to £447.5 million.