Charles Stanley has reported revenue of £36.9 million for the first quarter ended 30 June 2013, a 31% increase compared to £28.2 million for the same period of 2012.
Total client funds stood at £17.66 billion, a decrease of 0.3% from the figure of £17.72 billion at 31 March 2013. Within this figure discretionary managed funds increased by 1.4% from £6.38 billion to £6.47 billion reflecting a net inflow of funds during the period.
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Over the same period, the FTSE 100 Index and the APCIMS Balanced Portfolio Index decreased by 3% and 2.1% respectively.
Charles Stanley stated that the increased levels of funds under management and the strong performance of the market for most of the first quarter have helped drive fee income upwards by 30% compared with the same period last year.
Although the second half of June saw the FTSE 100 Index fall by 1.5%, this has quickly been recovered in July with the FTSE 100 Index now at around 6,600 and the APCIMS Balanced Portfolio Index at about 3,300.
Fee income represented approximately 59% of Charles Stanley’s revenue over the period.
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