Charles Stanley FUM rises 3% as suitability review concludes

Charles Stanley saw total funds under management and administration increase from £20.1bn to £20.8bn for the year to the end of June.

At the end of the quarter, total client funds comprised managed funds of £12bn and administered funds of £8.8bn. Managed funds have increased 4.3% from the £11.5bn reported in the same period last year. This compares with a 3.3% decline for the FTSE 100 index over the same period and 3.7% increase for the WMA Balanced Portfolio index. However, total funds under management and administration were down 2.2% over the period compared to the end of March; a fall from £21.3bn to £20.8bn. The group also saw the suitability review initiated by the FCA draw to a close during the quarter. In...