Charles Stanley's FUM jumps to record £16bn

Wealth manager Charles Stanley has reported a 4.6% jump in client funds under management, with a significant boost coming from discretionary managed funds.

Total FUM now stand at a record £16.36bn, reflecting the 4.6% increase in the last three months of last year. Discretionary manager funds under management increased by 7.1% to £5.73bn as the wealth manager said transaction volumes have now stabilised since the downturn between September and December of 2011. Revenue also increased by 13.5% for the period from £27.4m the same period in the previous year to £31.1m, and commission revenue jumped 14.1%. Income rose 13.1% with fee income representing approximately 61% of the revenue. The interim management statement said: "We anticip...