Charles Stanley FUMA increases 4.6% in Q2

Discretionary service performed well

Tom Eckett
Paul Abberley, chief executive officer of Charles Stanley

Paul Abberley, chief executive officer of Charles Stanley

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...

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