Charles Stanley funds reach record high

Marion Dakers

STOCKBROKER and investment manager Charles Stanley this morning revealed a 15.3 per cent rise in total funds under management in the year to the end of March.

Charles Stanley now has £17.7bn under management and administration, a new record for the firm as it continues to bounce back from the market turmoil of the past few years.

Discretionary funds under management bounced 27.2 per cent to £6.4bn, with 8.3 per cent net organic growth within the funds.

The company said its full year results, due on 11 June, will be in line with expectations, helped by stronger equity markets and a calmer trading environment in the final three months of the period.

“Against this backdrop Charles Stanley has performed well and continues to reap the benefits of its broadly based business mix and strong balance sheet,” it said in a statement.