Quilter PLC - London-based wealth manager - Reports substantially improved annual net flows despite pandemic-induced market volatility and expects momentum to continue in 2022. Assets under management and administration rose by 13% to GBP111.8 billion as of December 31 from GBP99.0 billion a year prior, with growth supported by improved net flows and positive market movement. Net inflows more than doubled to GBP3.97 billion in 2021 from GBP1.49 billion in 2020. For the fourth quarter ended December 31, net inflows jumped to GBP949 million from GBP307 million.
Chief Executive Paul Feeney says: "2021 was a year of continued business challenge caused by the Covid-19 pandemic coupled with a degree of market volatility. However, it was also a year which highlighted the strength of our advice-based model, which delivered consistent flows of around GBP1 billion a quarter into our business during 2021 and we expect momentum to continue to improve in 2022."
Current stock price in Johannesburg: ZAR29.49, up 0.3% on Wednesday morning
12-month change: down 9.7%
Current stock price in London: 142.90 pence, down 0.6% on Wednesday
12-month change: down 8.5%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Quilter (QLT)