Charles Stanley Group PLC - London-based investment manager - Total funds under management & administration in the quarter ended September 30 increase by 0.9% to GBP22.8 billion against the prior quarter. This compares to a 0.4% decrease over the same period in the MSCI WMA Private Investor Balanced Index. Compared to the financial year-end position at March 31, FuMA are up 13%.
"However, this material movement mainly reflected the market disruption caused by the coronavirus pandemic, and average FuMA over the first half of GBP22.1 billion was 9.4% lower than average FuMA of GBP24.4 billion over the first half of last year," Charles Stanley explains.
Revenue dips 6.8% in the quarter to GBP39.9 million.
CEO Paul Abberley says: "The group has traded and operated resiliently during the first half. Our focus remains on supporting clients and staff during these difficult times, and we are confident of further progress during the second half."
Current stock price: 242.0 pence
Year-to-date change: down 24%
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.