In a trading update, Charles Stanley reported its FUMA rose from £23.8bn on 31 March to £24.9bn on 30 June, representing a 4.6% increase compared to 4.5% for the MSCI WMA Private Investor Balanced Index.
The majority of this asset growth was through discretionary funds which rose 5.7%, a total of £700m, while execution-only funds grew by 4.8%, a total of £400m.
The firm’s online platform Charles Stanley Direct saw funds under administration up 13.0% to £2.6bn.
However, advisory managed and advisory dealing fund categories remained relatively flat during the quarter.
Paul Abberley (pictured), chief executive officer of Charles Stanley, said trading conditions in Q1 were in line with expectations.
“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,” Abberley said.
