Charles Stanley first-quarter assets under management up 4.6%
Source - SMW
Investment manager Charles Stanley Group said it grew its assets under management by 4.6% in the first quarter, mostly owing to a positive market performance.
Over the same three-month period through June, the MSCI WMA Private Investor Balanced Index rose 4.5%.
The majority of the asset growth was registered in the company's higher-margin discretionary service, which increased by £0.7bn, or 5.7%.
Core Business revenues for were up 4.0% from £37.7m.
'I am pleased to report that trading conditions in the first quarter were in line with our expectations,' chief executive Paul Abberley said.
'We remain focused, as outlined in our 2018 year-end results, on the execution of our strategy to deliver top line growth and to streamline our operating model.'
At 2:18pm: (LON:CAY) Charles Stanley Group PLC share price was +7p at 372p