- Investment and insurance group Quilter said its net client cash flows had fallen in the third quarter amid a more volatile market performance.

Net client cash flows for the three months through September more than halved to £0.5bn, down from £1.3bn on-year.

Gross sales fell to £3.4bn, down from £4.1bn.

'Over the last quarter more volatile investment markets and geopolitical uncertainty have contributed to weaker investor sentiment resulting in a market-wide reduction in net retail flows,' chief executive Paul Feeney said.

'Worthy of note is the more cautious approach both we and the advisers who use our platform have taken towards defined benefit to defined contribution pension transfers,' he added.

These totalled £0.3bn in the third quarter versus £0.6bn on-year.

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