15 April 2021 | 09:22am
StockMarketWire.com - Wealth management services group Charles Stanley reported a slight uptick in quarterly funds under management and administration in the fourth quarter as positive market performance continue to boost assets.
Total funds under management and administration increased over the quarter to 31 March 2021 by 2.0% to £25.6 billion.
'This rise mirrored positive market performance adding £0.5 billion to FuMA and compares favourably to a 1.6% increase in the MSCI PIMFA Private Investor Balanced Index over the same period,' the company said.
The average FuMA over the financial year to 31 March 2021 was £23.2 billion, a decrease of 4.1% from £24.2 billion over the prior financial year, reflecting the 'stressed market conditions during the COVID-19 pandemic,' it added.