British wealth manager Charles Stanley’s funds under management and administration stood at £24.1bn at the end of the first quarter on 30 June 2017, a marginal rise of 0.4% compared to £24bn as at 31 March 2017.
The group’s discretionary funds totalled £11.8bn at the end of June 2017, up 3.5% from £11.4bn as at 31 March 2017.
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Execution-only funds dipped 1.2% over the three months to the end of June to £8.3bn. Advisory managed and advisory dealing fund categories slipped by 4.2% and 5.6%, respectively.
The group’s revenues on a year-to-date basis were £38.3m, an increase of 13.3% from £33.8m.
CEO Paul Abberley said: “Trading conditions remain stable against the backdrop of a relatively flat market over Q1. Our strategy remains on track to deliver long term growth in revenues, margins and profits, which in turn will support our progressive dividend policy and thus generate long-term shareholder value.”
