British wealth management firm Charles Stanley has signed up for the BITA ESG Manager application from BITA Risk.

BITA Risk, part of corfinancial, build its firm on taking complex risk and portfolio data and turning it into something accessible. Now, it is utilising the same approach to ESG investment, automating many steps and integrating key data as part of the process.

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Charles Stanley investment managers will now use detailed visualisations to understand exposures, check preference conflicts and assess the impact of ESG-driven changes.

Charles Stanley’s COO, Michael Bennett, said: “BITA ESG Manager has taken the complexity of ESG factor data and presented it with such clarity that it can be efficiently managed and monitored across large numbers of our clients, forming an integral part of our investment strategy.”

Daryl Roxburgh, president and global head, BITA Risk: “Recognising a client’s ESG preferences and understanding asset exposures are key to effective portfolio management and analysis. Using exception management to identify any conflicts is the most efficient way of keeping a portfolio within mandate and this, together with innovative client reporting, is how BITA ESG Manager can manage the process with flexibility and on the scale required by Charles Stanley.”

Charles Stanley reported a drop in profit and revenue as the Covid-19 crisis hits its funds under management and administration (FuMA).

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In the six-month-period ending 30 September 2020, underlying pre-tax profit at the firm stood at £6.6m. This is a 27% decrease from the prior year figure of £9.1m.

Reported profit before tax decreased to £4.8m from £8.1m. Underlying earnings per share (EPS) dropped to 9.94p from 15.04p while reported EPS dropped to 7.06p from 13.36p.

Revenue fell 4% to £81.9m from £85.4m over the period, mainly due to Investment Management Services where revenues dipped to £72.9m from £77m.

In the firm’s online execution-only service Charles Stanley Direct, revenues remained flat at £4.5m.