Source - SMW
Investment manager Charles Stanley Group posted a rise in third-quarter funds under management and administration, underpinned by market growth.

FuMA rose by 2.5% compared to the third quarter to £24.9bn, with FTSE UK Private Investor Balanced Index increasing by 3.6% over the same period.

The growth in FuMA was supplemented by "encouraging" inflows to higher-margin discretionary services, the company said, partly driven by clients upgrading from advisory services.

Revenues on a year-to-date basis were up 7.4% at £111.8m.

"Trading conditions in Q3 were consistent with the performance seen in the first half of the financial year with a continued transition to higher margin fee-based revenues, favourable market conditions and stable cost control," chief executive Paul Abberley said.

At 2:01pm: (LON:CAY) Charles Stanley Group PLC share price was +9p at 395p