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Charles Stanley reports 2% uptick in quarterly funds under management in Q4
StockMarketWire.com
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Wealth management services group Charles Stanley reported a slight uptick in quarterly funds under management and administration in the fourth quarter as positive market performance continue to boost assets.
Total funds under management and administration increased over the quarter to 31 March 2021 by 2.0% to £25.6 billion.
'This rise mirrored positive market performance adding £0.5 billion to FuMA and compares favourably to a 1.6% increase in the MSCI PIMFA Private Investor Balanced Index over the same period,' the company said.
The average FuMA over the financial year to 31 March 2021 was £23.2 billion, a decrease of 4.1% from £24.2 billion over the prior financial year, reflecting the 'stressed market conditions during the COVID-19 pandemic,' it added.
Total revenue for the year remained slipped to £171.2 million from £173.0 million, following a 68.8% reduction in interest income due to lower base rates, though was largely offset by a 3.2% rise in net fee income and 1.5% in commission income.
At 9:22am: (LON:CAY) Charles Stanley Group PLC share price was 0p at 275p
Story provided by StockMarketWire.com
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