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Charles Stanley maintains positive momentum

StockMarketWire.com

Charles Stanley Group maintained its positive momentum across all divisions in the quarter and year ended 31 March.

It said total funds under management and administration at 31 March were £24.0 billion representing an increase of 5.7% against £22.7 billion at 31 December 2016 and 17.1% compared to £20.5 billion at 31 March 2016.

Compared to 31 March 2016, discretionary and execution-only funds increased by 21.3% and 23.5% respectively.

Advisory dealing funds saw modest growth of 5.9%, whilst advisory managed funds fell 7.7%.

Over the same period the WMA Balanced Portfolio Index increased by 15.9%.

Within the final quarter, discretionary, advisory dealing and execution-only funds rose by 5.6%, 5.9% and 9.1% respectively. Advisory managed funds fell 4.0% largely as a result of clients upgrading to the discretionary product.

Looking ahead, the group said trading conditions remained favourable but "we are mindful of the impact that global political and economic uncertainty may have on markets, both at home and abroad.

"We remain on track to deliver our strategy to improve the Group's operating performance and strengthen its balance sheet which will leave us better placed in the event of a change in trading conditions.

"In the short-term we are focused on the need to continue to improve both net inflows of funds under management and productivity."







Story provided by StockMarketWire.com