Wealth manager Charles Stanley said total funds under management and administration were boosted by a stronger performance from equity markets in the final quarter and a slightly more benign trading environment.
Total funds under management and administration at March 31 2013 reached a new high of £17.7bn, up 15.3% from £15.4bn the same time a year earlier.
The stockbroking firm said discretionary funds under management increased by 27.2% to £6.4bn while discretionary funds from new investment managers taken on during the year totalled £450m. Net organic growth in discretionary funds was 8.3%.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Net organic growth of total funds under management and administration was 2.4% compared to 4.1% in 2012 and during the year, the APCIMS balanced index rose from 3,001.55 to 3,300.40, up 9.9%.
The group said against a backdrop of more robust markets, it continues to reap the benefits of its broadly based business mix and strong balance sheet.
Looking ahead, Charles Stanley said it expects results for the fiscal 2013 year-end to be in line with expectations.
CJ
-
5 alternatives to Reeves’ inheritance tax raid on rural Britain as families face ‘splitting up or selling’ farmsInheritance tax limits are now so low they attack small working family farms rather than just going after tax loopholes, one Cotswolds farmer has said
-
High earners at risk of £65k retirement shockHigh earners could face some of the biggest pension shortfalls when they retire, as the cost of maintaining an expensive lifestyle could erode their retirement savings
