British wealth management and brokerage firm Charles Stanley’s total client funds stood at £20.8bn at the end of December 2015, a rise of 1.3% compared to £20.5bn a year ago.
Within this, discretionary funds increased 5.6% to £9.4bn from £8.9bn a year ago, while total managed funds rose 1.7% year-on-year to £12bn from £11.8bn.
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Revenues for the quarter ended 31 December 2015 were £32.3bn, down from £36.3 in the year-ago quarter, the company said in its trading update.
The group’s fee income dropped to £22.3bn from £24.3bn a year earlier, while commission income fell to £10bn from £11.9bn a year ago.
During the quarter, the FTSE 100 index dropped 4.9% and the WMA balanced decreased 0.1%.
Charles Stanley CEO Paul Abberley said: "In a period of general decline in market values and lower trading activity in comparison to the same period in 2014/15, trading conditions in the third quarter and into January 2016 have been challenging. Progress continues to be made with the implementation of the Group’s turnaround strategy and we remain confident in our long term prospects."
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