StockMarketWire.com - Wealth manager Quilter said its assets under management had grown in the first quarter, boosted by fresh flows into its funds.

Assets under management and administration for the three months through March increased to £119.9 billion, up 26% year-on-year and 2% since the end of December.

Net inflows amounted to £1.2 billion, up from £0.5 billion, year-on-year, while gross sales rose 15% to £3.8 billion.

'With Quilter Investors having delivered a much improved one-year investment performance in the period to end March 2021, we are anticipating this, combined with well-established long-term performance, will drive an increase in gross flows in the coming months,' chief executive Paul Feeney said.

Feeny said the company was pleased with shareholder feedback and market reaction to the proposed sale of Quilter International.

'We expect the formal class-one circular to be mailed to shareholders in the coming weeks and we look forward to receiving shareholder approval for the sale at a general meeting of the company to be scheduled in June,' he said.






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