21 Apr 2017 07:00
21 April 2017
Charles Stanley Group PLC
Trading update for the three months ended 31 March 2017 and notice of results
Charles Stanley Group PLC ("Charles Stanley" or "the Group") today issues a trading update for the fourth quarter and financial year ended 31 March 2017. The Group is maintaining positive momentum across all divisions and trading is in line with management expectations.
Total Funds under Management and Administration ("FuMA") at 31 March 2017 were £24.0 billion representing an increase of 5.7% against £22.7 billion at 31 December 2016 and 17.1% compared to £20.5 billion at 31 March 2016.
Compared to 31 March 2016, discretionary and execution-only funds increased by 21.3% and 23.5% respectively. Advisory dealing funds saw modest growth of 5.9%, whilst advisory managed funds fell 7.7%. Over the same period the WMA Balanced Portfolio Index increased by 15.9%.
Within the final quarter, discretionary, advisory dealing and execution-only funds rose by 5.6%, 5.9% and 9.1% respectively. Advisory managed funds fell 4.0% largely as a result of clients upgrading to the discretionary product.
Outlook
Trading conditions remain favourable but we are mindful of the impact that global political and economic uncertainty may have on markets, both at home and abroad. We remain on track to deliver our strategy to improve the Group's operating performance and strengthen its balance sheet which will leave us better placed in the event of a change in trading conditions. In the short-term we are focused on the need to continue to improve both net inflows of funds under management and productivity.
Notice of results
The Group will issue its preliminary statement of annual results for the year ended 31 March 2017 on 14 June 2017.
For further information, please contact:
Charles Stanley Joanne Vowles Public Relations Manager Via Redleaf | Canaccord Genuity Andrew Buchanan 020 7523 4661 | Peel Hunt Guy Wiehahn 020 7418 8893 | Redleaf Communications Rebecca Sanders-Hewett Charlie Geller 020 7382 4730 CScapitalmarkets@redleafpr.com |
Notes to editors:
Charles Stanley traces its origins to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 450 professionals located in 25 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration and custody for investment portfolios, SIPPs and ISAs to enhance the quality of service provided. In addition, Charles Stanley Direct provides an award winning direct to customer Execution-only dealing platform for equities and funds.
FUNDS UNDER MANAGEMENT AND ADMINISTRATION
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| Change |
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| Mar 17 | Dec 16 | since | Mar 16 | since |
| £bn | £bn | Dec 16 | £bn | Mar 16 |
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Discretionary funds | 11.4 | 10.8 | 5.6% | 9.4 | 21.3% |
Advisory managed funds | 2.4 | 2.5 | (4.0%) | 2.6 | (7.7%) |
Total managed funds | 13.8 | 13.3 | 3.8% | 12.0 | 15.0% |
Advisory dealing funds | 1.8 | 1.7 | 5.9% | 1.7 | 5.9% |
Execution-only funds | 8.4 | 7.7 | 9.1% | 6.8 | 23.5% |
Total administered funds | 10.2 | 9.4 | 8.5% | 8.5 | 20.0% |
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Total FuMA | 24.0 | 22.7 | 5.7% | 20.5 | 17.1% |
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WMA balanced portfolio index | 4,122 | 4,010 | 2.8% | 3,556 | 15.9% |
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The changes from December 2016 and March 2016 are explained in more detail in the tables below:
Changes from December 2016: | Discretionary managed | Advisory managed | Total managed | Change |
| £bn | £bn | £bn | % |
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Funds at 1 January 2017 | 10.8 | 2.5 | 13.3 |
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New clients | - | - | - |
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Transfers | 0.1 | (0.1) | - |
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Net inflow/(outflow) from existing clients | 0.3 | (0.1) | 0.2 |
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Lost clients | (0.1) | - | (0.1) |
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Net inflow/(outflow) of funds | 0.3 | (0.2) | 0.1 | 0.8% |
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Market movement | 0.3 | 0.1 | 0.4 | 3.0% |
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Funds at 31 March 2017 | 11.4 | 2.4 | 13.8 | 3.8% |
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Changes from March 2016: | Discretionary managed | Advisory managed | Total managed | Change |
| £bn | £bn | £bn | % |
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Funds at 1 April 2016 | 9.4 | 2.6 | 12.0 |
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New clients | 0.8 | 0.1 | 0.9 |
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Transfers | 0.3 | (0.3) | - |
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Net inflow/(outflow) from existing clients | (0.2) | (0.1) | (0.3) |
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Lost clients | (0.4) | (0.2) | (0.6) |
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Net inflow/(outflow) of funds | 0.5 | (0.5) | - | - |
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Market movement | 1.5 | 0.3 | 1.8 | 15.0% |
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Funds at 31 March 2017 | 11.4 | 2.4 | 13.8 | 15.0% |
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