Charles Stanley saw its funds under administration hit a new high in the year to end March 2013, according to its pre-close trading update.
The announcement, made ahead of its preliminary results released on 11 June 2013, revealed total FUM at 31 March 2013 of £17.7bn, up 15.3% from £15.4bn at the end of March 2012. Within that figure, discretionary funds under management increased by 27.2% to £6.4bn, up from £5bn last year. The groupd said net organic growth in discretionary funds was 8.3%. Discretionary funds from new investment managers taken on during the year totalled £450m, while net organic growth of total funds under management and administration was 2.4%. The group said the final quarter of the financial year...
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