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Article: Record turnover at Charles Stanley.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jonas Crosland
RESULT: Solid demand from private clients boosts assets under management and revenues hit a record level
The bosses at Charles Stanley were confident enough last June to say that a market recovery was on the way. And equity values have certainly risen strongly since then, helping to boost funds under administration at the stockbroker and investment manager from GBP10.1bn at this stage last year to GBP11.6bn.
Discretionary funds under management - which typically generate much higher fees than advisory managed funds - have risen almost 30 per cent since March to a record GBP3.5bn. In fact, most of the 14 per cent increase ...