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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Quilter Plc | LSE:QLT | London | Ordinary Share | GB00BNHSJN34 | ORD 8 1/6P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.90 | 3.29% | 122.40 | 122.00 | 122.30 | 122.30 | 117.70 | 119.00 | 1,367,626 | 16:35:24 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | 4.49B | 42M | 0.0299 | 40.87 | 1.66B |
From Jul 2019 to Jul 2024
TIDMQLT
RNS Number : 9601E
Quilter PLC
24 October 2018
24 October 2018
QUILTER PLC REPORTS SOLID NCCF FOR Q3
Highlights
-- Third quarter Net Client Cash Flow (NCCF) of GBP1.1 billion, excluding Quilter Life Assurance, was marginally ahead of the second quarter but below the high level achieved in Q3 2017, when market activity was significantly more buoyant.
-- Year to date NCCF of GBP4.1 billion, represents 5% of opening Assets under Management and Administration (AuMA) on an annualised basis.
-- Steady growth in AuMA to GBP118.1 billion despite mixed global market performance (up 3% year to date and up 1.4% from 30 June 2018 despite a decline of 1.7% in the FTSE 100 Index during the third quarter).
-- GBP0.9 billion of integrated flows delivered during the quarter (of which GBP0.8 billion was from Quilter Financial Planning and Private Client Advisers). Total integrated flows of GBP3.0 billion year to date (+7%) further demonstrating the strength of our advice based business model.
Quilter plc highlights for the nine months ended 30 September 2018
Hot Features
Premium
Quilter plc (GBPbn) Q3 2018 YTD Q3 2017 YTD
------------
NCCF 2.7 4.5
NCCF (excluding Quilter Life Assurance) 4.1 5.3
NCCF/opening AuMA (excluding Quilter Life
Assurance)(1) 5% 8%
Gross Sales 11.5 12.7
Total integrated net flows (excluding Quilter
Life Assurance) 3.7 3.8
Of which Quilter Financial Planning & Private
Client Advisers generated 3.0 2.8
------------------------------------------------------------ ------------ --------------------------------
30 September 31 December
2018 2017
------------------------------------------------------------ ------------ --------------------------------
Assets under Management/Administration (AuMA) 118.1 114.4
------------------------------------------------------------ ------------ --------------------------------
(1) NCCF (annualised) as a % of opening AuMA
(excluding Quilter Life Assurance)
Quilter plc highlights for the three months
ended 30 September 2018
Quilter plc (GBPbn) Q3 2018 Q3 2017
------------------------------------------------------------ ------------ --------------------------------
NCCF 0.5 1.3
NCCF (excluding Quilter Life Assurance) 1.1 1.9
Gross Sales 3.4 4.1
Total integrated net flows (excluding Quilter
Life Assurance) 0.9 1.4
Of which Quilter Financial Planning & Private
Client Advisers generated 0.8 1.0
------------------------------------------------------------ ------------ --------------------------------
Paul Feeney, CEO of Quilter plc, commented:
"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. Year to date flows across the market are down 55% on the comparable period according to the Investment Association. Against this backdrop, I am pleased to report continued solid performance in NCCF of GBP1.1 billion (excluding Quilter Life Assurance) in the third quarter, marginally ahead of the second quarter. 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. These totalled GBP0.3 billion in the third quarter of 2018 versus GBP0.6 billion in the comparable period of 2017.
Gross flows into Quilter Investors of GBP4.3 billion year to date were up 10% on a year earlier and gross sales within Quilter Wealth Solutions, our UK platform business, remained strong at GBP6.1 billion year to date, down 9% on the prior year despite the factors referenced earlier. This demonstrates the benefit of having both a substantial adviser workforce and an open channel actively supporting over 4,000 IFAs. We remain confident in the long term prospects for our business model. We look forward to reporting our full year results in March 2019."
Quilter plc data tables for the nine months ended 30 September 2018 (GBPbn)
AuMA AuMA
as at 31 Market as at 30
December Gross Gross and other September
2017 inflows outflows Net flows movements 2018
--------- -------- --------- --------- ----------
Quilter Investors 16.9 4.3 (2.0) 2.3 (0.4) 18.8
Quilter Cheviot 23.6 2.0 (1.4) 0.6 0.2 24.4
Quilter Financial Planning 1.2 - - - (0.1) 1.1
--------------------------- --------- -------- --------- --------- ---------- ----------
Advice & Wealth Management 41.7 6.3 (3.4) 2.9 (0.3) 44.3
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Wealth Solutions 50.2 6.1 (3.4) 2.7 0.5 53.4
Quilter International 19.3 1.3 (1.2) 0.1 0.2 19.6
Quilter Life Assurance(1) 15.3 0.4 (1.9) (1.5) 0.2 14.0
--------------------------- --------- -------- --------- --------- ---------- ----------
Wealth Platforms 84.8 7.8 (6.5) 1.3 0.9 87.0
--------------------------- --------- -------- --------- --------- ---------- ----------
Elimination of intra-group
assets (12.1) (2.6) 1.1 (1.5) 0.4 (13.2)
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter plc 114.4 11.5 (8.8) 2.7 1.0 118.1
--------------------------- --------- -------- --------- --------- ---------- ----------
AuMA AuMA
as at 31 Market as at 30
December Gross Gross and other September
2016 inflows outflows Net flows movements 2017
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Investors 12.1 3.9 (1.5) 2.4 0.8 15.3
Quilter Cheviot 20.7 2.2 (1.2) 1.0 1.3 23.0
Quilter Financial Planning - - - - 1.2 1.2
--------------------------- --------- -------- --------- --------- ---------- ----------
Advice & Wealth Management 32.8 6.1 (2.7) 3.4 3.3 39.5
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Wealth Solutions 41.4 6.7 (3.4) 3.3 2.9 47.6
Quilter International 16.9 1.5 (0.9) 0.6 0.5 18.0
Quilter Life Assurance(1) 15.5 1.0 (2.2) (1.2) 0.8 15.1
--------------------------- --------- -------- --------- --------- ---------- ----------
Wealth Platforms 73.8 9.2 (6.5) 2.7 4.2 80.7
--------------------------- --------- -------- --------- --------- ---------- ----------
Elimination of intra-group
assets (8.4) (2.6) 1.0 (1.6) (0.6) (10.6)
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter plc 98.2 12.7 (8.2) 4.5 6.9 109.6
--------------------------- --------- -------- --------- --------- ---------- ----------
(1) Includes other shareholder AuMA of GBP0.4bn included in Q3 2018 (Q4
2017: GBP0.2bn, Q4 2016: GBP0.2bn and Q3 2017: GBP0.1bn).
Quilter plc data tables for the three months ended 30 September 2018 (GBPbn)
AuMA AuMA
as at 30 Market as at 30
June Gross Gross and other September
2018 inflows outflows Net flows movements 2018
--------- -------- --------- --------- ----------
Quilter Investors 18.4 1.3 (0.8) 0.5 (0.1) 18.8
Quilter Cheviot 24.1 0.5 (0.4) 0.1 0.2 24.4
Quilter Financial Planning 1.2 - - - (0.1) 1.1
--------------------------- --------- -------- --------- --------- ---------- ----------
Advice & Wealth Management 43.7 1.8 (1.2) 0.6 - 44.3
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Wealth Solutions 52.3 1.8 (1.2) 0.6 0.5 53.4
Quilter International 19.2 0.4 (0.4) - 0.4 19.6
Quilter Life Assurance(1) 14.5 0.1 (0.6) (0.5) - 14.0
--------------------------- --------- -------- --------- --------- ---------- ----------
Wealth Platforms 86.0 2.3 (2.2) 0.1 0.9 87.0
--------------------------- --------- -------- --------- --------- ---------- ----------
Elimination of intra-group
assets (13.2) (0.7) 0.5 (0.2) 0.2 (13.2)
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter plc 116.5 3.4 (2.9) 0.5 1.1 118.1
--------------------------- --------- -------- --------- --------- ---------- ----------
AuMA AuMA
as at 30 Market as at 30
June Gross Gross and other September
2017 inflows outflows Net flows movements 2017
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Investors 14.1 1.4 (0.5) 0.9 0.3 15.3
Quilter Cheviot 22.5 0.7 (0.3) 0.4 0.1 23.0
Quilter Financial Planning 1.2 - - - - 1.2
--------------------------- --------- -------- --------- --------- ---------- ----------
Advice & Wealth Management 37.8 2.1 (0.8) 1.3 0.4 39.5
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter Wealth Solutions 45.9 2.3 (1.1) 1.2 0.5 47.6
Quilter International 17.8 0.4 (0.2) 0.2 - 18.0
Quilter Life Assurance(1) 15.6 0.2 (0.9) (0.7) 0.2 15.1
--------------------------- --------- -------- --------- --------- ---------- ----------
Wealth Platforms 79.3 2.9 (2.2) 0.7 0.7 80.7
--------------------------- --------- -------- --------- --------- ---------- ----------
Elimination of intra-group
assets (9.8) (0.9) 0.2 (0.7) (0.1) (10.6)
--------------------------- --------- -------- --------- --------- ---------- ----------
Quilter plc 107.3 4.1 (2.8) 1.3 1.0 109.6
--------------------------- --------- -------- --------- --------- ---------- ----------
(1) Other shareholder AuMA of GBP0.4bn included in Q3 2018 (Q2 2018: GBP0.4bn,
Q2 2017: GBPnil and Q3 2017: GBP0.1bn).
Business unit descriptor:
Previous New
-------------------------------
Intrinsic Quilter Financial Planning
Old Mutual Wealth Private Client
Advisers Quilter Private Client Advisers
UK Platform Quilter Wealth Solutions
International Quilter International
Heritage Quilter Life Assurance
-------------------------------
Enquiries
Investor Relations John-Paul Crutchley UK +44 20 7002 7016 Media Vee Montebello UK +44 20 7778 9550 Camarco Geoffrey Pelham-Lane UK + 44 20 3757 4985 Aprio (South Africa) Julian Gwillim SA + 27 11 880 0037
Disclaimer
This announcement may contain certain forward-looking statements with respect to certain Quilter plc's plans and its current goals and expectations relating to its future financial condition, performance and results.
By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Quilter plc's control including amongst other things, international and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing and impact of other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Quilter plc and its affiliates operate. As a result, Quilter plc's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Quilter plc's forward looking statements.
Quilter plc undertakes no obligation to update the forward-looking statements contained in this announcement or any other forward-looking statements it may make.
Nothing in this announcement should be construed as a profit forecast.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTFEAFADFASEFS
(END) Dow Jones Newswires
October 24, 2018 02:00 ET (06:00 GMT)
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