Source - LSE Regulatory
RNS Number : 6617Z
Charles Stanley Group PLC
14 January 2020
 

 

14 January 2020

 

 

 

 

Charles Stanley Group PLC

 

Third quarter trading update for the three months ended 31 December 2019

 

 

Charles Stanley Group PLC ("Charles Stanley" or the "Group") today issues a trading update for the third quarter of its financial year, covering the three months ended 31 December 2019.

 

Total Funds under Management and Administration ("FuMA") at 31 December 2019 have risen by 2.8% over the three month period to £25.3 billion, (30 September 2019: £24.6 billion). The increase in funds largely reflects market improvement of £1.0 billion, offset by net outflows of £0.3 billion in the quarter. Over the same period, the MSCI WMA Private Investor Balanced Index increased by 0.8%.

 

Group revenues for the quarter rose by 14.2% to £42.7 million from £37.4 million in the same period in 2018. This was driven by increased commission income and fee income, up 19.5% and 13.5% respectively.

 

Paul Abberley, Chief Executive Officer of Charles Stanley, said: "Growth in FuMA over the third quarter mainly reflected market improvements. Group revenues have continued to improve year-on-year benefiting from higher trading volumes, market volumes and repricing, and our transformation programme is on track."

 

Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90

 

For further information, please contact: 

 

Charles Stanley

Siobhan Griffiths

Via KTZ Communications

Canaccord Genuity

David Tyrrell

020 7523 4677

Peel Hunt

Guy Wiehahn

020 7418 8893

KTZ Communications

Katie Tzouliadis

020 3178 6378

 

 

Notes to editors:

 

Charles Stanley provides holistic wealth management services to private clients, charities, trusts and institutions. Its origins trace back to 1792 and it is one of the oldest firms on the London Stock Exchange. The Company has a national presence, with 27 locations and 850 professionals. Its wealth management services are provided direct to clients and to intermediaries.

 



 

FUNDS UNDER MANAGEMENT AND ADMINISTRATION

 

 


Dec 2019

Sep 2019

Mar 2019


£bn

£bn

£bn





Discretionary funds

14.4

13.9

13.1

Advisory managed funds

1.4

1.5

1.5

Total managed funds

15.8

15.4

14.6

Advisory dealing funds

1.2

1.2

1.3

Execution-only funds

8.3

8.0

8.2

Total administered funds

9.5

9.2

9.5





Total FuMA

25.3

24.6

24.1





MSCI WMA Private Investor Balanced Index

1,679

1,665

1,587





 

 

The change in FuMA since 30 September 2019 is explained in more detail in the table below:

 

 


Discretionary managed

Advisory managed

Advisory dealing

Execution-only

 

Total


£bn

£bn

£bn

£bn

£bn







Funds at 1 October 2019

13.9

1.5

1.2

8.0

24.6













New clients

0.2

-

-

-

0.2

Transfers

-

-

(0.1)

0.1

-

Net outflows from existing clients

-

(0.1)

-

(0.1)

(0.2)

Lost clients

(0.2)

-

-

(0.1)

(0.3)













Net outflows of funds

-

(0.1)

(0.1)

(0.1)

(0.3)













Market movement

0.5

-

0.1

0.4

1.0













Funds at 31 December 2019

14.4

1.4

1.2

8.3

25.3







 

 

 



 

REVENUE

 

The table below set out the revenues of the Group for the quarter ended 31 December 2019 along with the prior year comparatives on a like-for-like basis.

 

Quarter to 31 December 2019


Investment Management Services

 

Financial Planning

Charles Stanley

Direct

 

Total


£m

£m

£m

£m






Fee income

27.5

2.2

1.4

31.1

Commission

8.9

-

0.3

9.2

Interest income

1.9

-

0.5

2.4

Total

38.3

2.2

2.2

42.7







 

 

Quarter to 31 December 2018

 


Investment Management Services1

 

Financial Planning

Charles Stanley

Direct

 

Total


£m

£m

£m

£m






Fee income

24.1

1.9

1.4

27.4

Commission

7.4

-

0.3

7.7

Interest income

1.9

-

0.4

2.3

Total

33.4

1.9

2.1

37.4

 

1The figures have been restated to reflect the amalgamation of the Asset Management division into the Investment Management Services division with effect from 1 April 2019.

 

 

Year-to-date 31 December 2019


Investment Management Services

 

Financial Planning

Charles Stanley

Direct

 

Total


£m

£m

£m

£m






Fee income

82.3

6.1

4.3

92.7

Commission

27.3

-

1.0

28.3

Interest income

5.6

-

1.5

7.1

Total

115.2

6.1

6.8

128.1

 

 

Year-to-date 31 December 2018


Investment Management Services1

 

Financial Planning

Charles Stanley

Direct

 

Total


£m

£m

£m

£m






Fee income

73.6

5.4

3.6

82.6

Commission

26.3

-

1.1

27.4

Interest income

4.2

-

0.9

5.1

Total

104.1

5.4

5.6

115.1

 

1The figures have been restated to reflect the amalgamation of the Asset Management division into the Investment Management Services division with effect from 1 April 2019.

 


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