Mattioli Woods sees AUM drop 8%

Inflows of £577m

Mattioli Woods has struggled to maintain its assets under management as inflation and negative market movement have placed a strain on the firm.

The wealth and asset manager saw gross discretionary assets under management drop 7.8%, from £5.1bn to £4.7bn, it revealed in a trading update for the year ended 31 May 2023. Despite the drop in AUM, the firm saw inflows of £577m, at 11.3% of opening assets, were offset by negative market movements, it added. Foresight Group eyes more M&A as acquisitions boost assets Ian Mattioli, chief executive and co-founder of the firm, pointed to a 3% growth in revenue despite "the sustained market and economic complexity". He credited the "strong growth" within the firm's core pension ...