Charles Stanley FUMA increases 4.6% in Q2

Discretionary service performed well

Charles Stanley saw its funds under management and administration (FUMA) rise in the three months to 30 June amid positive market conditions.

FUMA increased from £23.8bn on 31 March to £24.9bn by 30 June, representing an increase of 4.6% versus a 4.5% rise for the MSCI WMA Private Investor Balanced index. The majority of asset growth was driven by the firm's discretionary service, which rose 5.7% or £700m while the execution-only funds business increased by 4.8% or £400m. Second Charles Stanley 'super office' opens in Southampton The firm's online platform, Charles Stanley Direct, also posted strong performance over the period, with funds under administration jumping 13% to £2.6bn. However, advisory managed and adviso...