Rally for Charles Stanley

Share this article
0
Have your say

STOCKBROKER Charles Stanley increased its assets under ­management to a new high of £17.7 billion by the end of March as the market rallied.

The group said total funds under management and administration grew by 15.3 per cent in the last financial year.

Within that figure, discretionary funds – seen as the most valuable for an asset manager – increased by 27.2 per cent to £6.4bn. The company said: “The final quarter of the financial year was characterised by a stronger performance from equity markets and a slightly more benign trading environment.”

Its full-year results are ­anticipated to be in line with City ­expectations.