British wealth manager Charles Stanley’s funds under management and administration stood at £24.9bn at the end of the third quarter on 31 December 2017, up 2.5% compared to £24.3bn at the end of 30 September 2017.
Compared to the previous quarter, the group’s discretionary funds increased 4% to £12.6bn and execution-only funds rose 4% to £8.6bn.
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Advisory managed funds dropped 4.5% to £2.1bn, while advisory dealing funds dipped 6% to £1.6bn, the company said in its trading update.
Total group revenues on a year-to-date basis increased 7% to £111.8m from £104.1m.
Charles Stanley CEO Paul Abberley said: “Trading conditions in Q3 were consistent with the performance seen in the first half of the financial year with a continued transition to higher margin fee-based revenues, favourable market conditions and stable cost control.”
