Total client funds decreased by just 2% and currently stand at £14.81bn, down from £15.04bn.
Of these, discretionary managed funds saw a net inflow to grow 3%, from £4.78bn to £4.94bn.
The first quarter has once again seen a downturn in transaction volumes that has led to a decline in commission revenue of £2.4m but still represented more than 60% of total revenue.
While striving for a positive end to the announcement of its results, the company’s statement concluded: “We anticipate that economic and market conditions will remain uncertain but are confident that our broadly based business mix and financial strength will allow us to produce a creditable performance.”
