Charles Stanley Group has seen an increase in funds under management (FUM) of 5.7 per cent in the first quarter of 2017, according to the company’s latest trading update for the fourth quarter and financial year ended 31 March 2017.
FUM at 31 March 2017 totalled GBP24.0 billion up from GBP22.7 billion at 31 December 2016, an increase of 17.1 per cent when compared to the GBP20.5 billion under management at 31 March 2016.
Compared to 31 March 2016, discretionary and execution-only funds increased by 21.3 per cent and 23.5 per cent respectively. Advisory dealing funds saw modest growth of 5.9 per cent, whilst advisory managed funds fell 7.7 per cent. Over the same period the WMA Balanced Portfolio Index increased by 15.9 per cent.
Within the final quarter, discretionary, advisory dealing and execution-only funds rose by 5.6 per cent, 5.9 per cent and 9.1 per cent respectively. Advisory managed funds fell 4.0 per cent largely as a result of clients upgrading to the discretionary product.
Charles Stanley writes: “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. 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.”