Rally for Charles Stanley

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.

By DOMINIC JEFF

Published 12th Apr 2013, 01:00 BST

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.