- Charles Stanley Group said that funds under management and administration increased 1.2% as gains in its investment portfolio helped offset outflows

Total Funds under Management and Administration at 30 June 2019 improved to £24.4 billion, up 1.2% on the £24.1 billion reported at 31 March 2019. In the quarter, the MSCI WMA Private Investor Balanced Index was up 2.8% whilst the FTSE 100 index increased at a lower rate of 2.0%.

The group generated investment performance gains of £0.9bn over the period, which more than offset net outflows of £0.6bn.

Core business revenues for the quarter increased by 5.9% to £41.5m from £39.2m, driven by fee income growth of 7.7%. Fees grew both as a result of the continuing service mix change toward discretionary and the completion of the repricing exercise at the end of the last financial year, the company said.

At 9:51am: [LON:CAY] Charles Stanley Group PLC share price was +3p at 279p

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