Charles Stanley Group PLC Trading update and notice of results (9190C)

TIDMCAY

RNS Number : 9190C

Charles Stanley Group PLC

21 April 2017

21 April 2017

Charles Stanley Group PLC

Trading update for the three months ended 31 March 2017 and notice of results

Charles Stanley Group PLC ("Charles Stanley" or "the Group") today issues a trading update for the fourth quarter and financial year ended 31 March 2017. The Group is maintaining positive momentum across all divisions and trading is in line with management expectations.

Total Funds under Management and Administration ("FuMA") at 31 March 2017 were GBP24.0 billion representing an increase of 5.7% against GBP22.7 billion at 31 December 2016 and 17.1% compared to GBP20.5 billion at 31 March 2016.

Compared to 31 March 2016, discretionary and execution-only funds increased by 21.3% and 23.5% respectively. Advisory dealing funds saw modest growth of 5.9%, whilst advisory managed funds fell 7.7%. Over the same period the WMA Balanced Portfolio Index increased by 15.9%.

Within the final quarter, discretionary, advisory dealing and execution-only funds rose by 5.6%, 5.9% and 9.1% respectively. Advisory managed funds fell 4.0% largely as a result of clients upgrading to the discretionary product.

Outlook

Trading conditions remain favourable but we are mindful of the impact that global political and economic uncertainty may have on markets, both at home and abroad. We remain on track to deliver our strategy to improve the Group's operating performance and strengthen its balance sheet which will leave us better placed in the event of a change in trading conditions. In the short-term we are focused on the need to continue to improve both net inflows of funds under management and productivity.

Notice of results

The Group will issue its preliminary statement of annual results for the year ended 31 March 2017 on 14 June 2017.

For further information, please contact:

 
  Charles Stanley     Canaccord           Peel            Redleaf Communications 
   Joanne Vowles       Genuity             Hunt            Rebecca Sanders-Hewett 
   Public Relations    Andrew Buchanan     Guy Wiehahn     Charlie Geller 
   Manager             020 7523            020 7418        020 7382 4730 
   Via Redleaf         4661                8893            [e-mail] 
 

Notes to editors:

Charles Stanley traces its origins to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 450 professionals located in 25 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration and custody for investment portfolios, SIPPs and ISAs to enhance the quality of service provided. In addition, Charles Stanley Direct provides an award winning direct to customer Execution-only dealing platform for equities and funds.

FUNDS UNDER MANAGEMENT AND ADMINISTRATION

 
                                        Change           Change 
                       Mar 17     Dec    since     Mar    since 
                                   16               16 
                        GBPbn   GBPbn   Dec 16   GBPbn   Mar 16 
 
 Discretionary 
  funds                  11.4    10.8     5.6%     9.4    21.3% 
 Advisory managed 
  funds                   2.4     2.5   (4.0%)     2.6   (7.7%) 
--------------------  -------  ------  -------  ------  ------- 
 Total managed 
  funds                  13.8    13.3     3.8%    12.0    15.0% 
--------------------  -------  ------  -------  ------  ------- 
 Advisory dealing 
  funds                   1.8     1.7     5.9%     1.7     5.9% 
 Execution-only 
  funds                   8.4     7.7     9.1%     6.8    23.5% 
--------------------  -------  ------  -------  ------  ------- 
 Total administered 
  funds                  10.2     9.4     8.5%     8.5    20.0% 
--------------------  -------  ------  -------  ------  ------- 
 
 Total FuMA              24.0    22.7     5.7%    20.5    17.1% 
 
 
 WMA balanced 
  portfolio index       4,122   4,010     2.8%   3,556    15.9% 
 
 

The changes from December 2016 and March 2016 are explained in more detail in the tables below:

 
 Changes from December           Discretionary               Advisory                   Total 
  2016:                                managed                managed                 managed   Change 
                                         GBPbn                  GBPbn                   GBPbn        % 
 
 Funds at 1 January 
  2017                                    10.8                    2.5                    13.3 
 
 
 New clients                                 -                      -                       - 
 Transfers                                 0.1                  (0.1)                       - 
 Net inflow/(outflow) 
  from existing clients                    0.3                  (0.1)                     0.2 
 Lost clients                            (0.1)                      -                   (0.1) 
 
 
 Net inflow/(outflow) 
  of funds                                 0.3                  (0.2)                     0.1     0.8% 
 
 
 Market movement                           0.3                    0.1                     0.4     3.0% 
 
 
 Funds at 31 March 
  2017                                    11.4                    2.4                    13.8     3.8% 
 
 
 
 Changes from March        Discretionary   Advisory      Total 
  2016:                          managed    managed    managed   Change 
                                   GBPbn      GBPbn      GBPbn        % 
 
 Funds at 1 April 2016               9.4        2.6       12.0 
 
 
 New clients                         0.8        0.1        0.9 
 Transfers                           0.3      (0.3)          - 
 Net inflow/(outflow) 
  from existing clients            (0.2)      (0.1)      (0.3) 
 Lost clients                      (0.4)      (0.2)      (0.6) 
 
 
 Net inflow/(outflow) 
  of funds                           0.5      (0.5)          -        - 
 
 
 Market movement                     1.5        0.3        1.8    15.0% 
 
 
 Funds at 31 March 
  2017                              11.4        2.4       13.8    15.0% 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 21, 2017 02:00 ET (06:00 GMT)