Charles Stanley funds reach new high

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%.

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