Discretionary Management 

Charles Stanley funds under management rise 6%

Charles Stanley funds under management rise 6%

Wealth management firm Charles Stanley has recorded a 5.7 per cent increase in total funds under management and administration (FuMA) in the first three months of 2017, helped by net inflows into its discretionary managed business.

The trading update for the fourth quarter of its financial year to March 31 2017 stated the group is “maintaining positive momentum across all divisions and trading is in line with management expectations”.

Figures show total FuMA reached £24bn at the end of March compared to £22.7bn at December 31 and a 17.1 per cent increase from the £20.5bn recorded at March 31 2016. 

Charles Stanley noted its discretionary managed business saw funds increase 5.6 per cent in the three months to March 31 2017, helped by £300m of net inflows and £300m of market movements, to reach £11.4bn. Meanwhile advisory managed funds fell 4 per cent in the quarter to £2.4bn as net outflows reached £200m. 

Overall total managed funds increased 3.8 per cent to £13.8bn in the quarter. For the year to March 2017 total managed funds increased 15 per cent, up from £12bn in March the previous year. 

The group stated: “Trading conditions remain favourable but we are mindful of the impact that global political and economic uncertainty may have on markets, both at home and abroad.”

It added: “In the short-term we are focused on the need to continue to improve both net inflows of funds under management and productivity.”