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Charles Stanley Grp (CAY)

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Thursday 15 April, 2021

Charles Stanley Grp

Fourth Quarter Trading Update

RNS Number : 4978V
Charles Stanley Group PLC
15 April 2021
 

15 April 2021

CAY.L

 

Charles Stanley Group PLC

("Charles Stanley" or the "Group")

 

Fourth Quarter Trading Update for the financial year ended 31 March 2021

 

 

Charles Stanley, the wealth management services group, is pleased to provide a trading update for the fourth quarter of its financial year ended 31 March 2021.

 

Trading Update

Total Funds under Management and Administration ("FuMA") increased over the quarter to 31 March 2021 by 2.0% to £25.6 billion (31 December 2020: £25.1 billion). This rise mirrored positive market performance adding £0.5 billion to FuMA and compares favourably to a 1.6% increase in the MSCI PIMFA Private Investor Balanced Index over the same period. Gross inflows matched gross outflows. The Group's average FuMA over the financial year to 31 March 2021 was £23.2 billion, a decrease of 4.1% from £24.2 billion over the prior financial year, and reflected the stressed market conditions during the COVID-19 pandemic.

 

Total revenue for the year remained relatively stable at £171.2 million (unaudited) (31 March 2020: £173.0 million (audited)). Underlying this figure, fee income rose 3.2% and commission income by 1.5%, substantially offsetting a 68.8% reduction in interest income due to lower base rates.

 

The Group expects to release its audited preliminary results for the financial year ended 31 March 2021 on 27 May 2021.

 

 

Paul Abberley, Chief Executive Officer of Charles Stanley, said:

"Charles Stanley has delivered a notably resilient performance since the onset of COVID-19 just over a year ago.  Revenues have held up well across all divisions, supported by our focus on excellent client service, and costs have been well controlled.

 

"We are cautiously optimistic that the worst of the pandemic is behind us and we expect to make further progress in the year ahead."

 

 

 

 

Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90

 

For further information, please contact:  

 

Charles Stanley

Siobhan Griffiths

Via KTZ Communications

Canaccord Genuity

Emma Gabriel

020 7523 8309

Peel Hunt

Andrew Buchanan

020 3597 8680

KTZ Communications

Katie Tzouliadis

020 3178 6378

 

 

Notes to editors:

 

Charles Stanley provides holistic wealth management services to private clients, charities, trusts and institutions. Its origins trace back to 1792 and the Group is one of the oldest firms on the London Stock Exchange. The Group has a national presence, with 26 locations and over 800 professionals. Its wealth management services are provided direct to clients and to intermediaries.

 

 

 

Funds under Management and Administration

 

 


Mar 2021

Dec 2020

Sep 2020

Jun 2020


£bn

£bn

£bn

£bn






Discretionary funds

15.2

14.9

13.6

13.4

Advisory managed funds

1.3

1.3

1.2

1.3

Total managed funds

16.5

16.2

14.8

14.7

Advisory dealing funds

1.2

1.2

1.1

1.1

Execution-only funds

7.9

7.7

6.9

6.8

Total administered funds

9.1

8.9

8.0

7.9






Total FuMA

25.6

25.1

22.8

22.6






MSCI WMA Private Investor Balanced Index

1,704

1,677

1,568

1,574

 

 

 

 

 

The change in FuMA since 31 December 2020 is explained in more detail in the table below:

 

 


Discretionary managed

Advisory managed

Advisory dealing

Execution-only

 

Total


£bn

£bn

£bn

£bn

£bn







Funds at 1 January 2021

14.9

1.3

1.2

7.7

25.1













New clients

0.2

-

-

0.1

0.3

Transfers

-

-

-

-

-

Net outflows from existing clients

(0.1)

-

-

-

(0.1)

Lost clients

(0.1)

-

-

(0.1)

(0.2)













Net flows of funds

-

-

-

-

-













Market movement

0.3

-

-

0.2

0.5













Funds at 31 March 2021

15.2

1.3

1.2

7.9

25.6







 

 

 



 

 

 

Revenue

 

The table below sets out the unaudited revenues of the Group for the quarter ended 31 March 2021 along with the prior year comparatives on a like-for-like basis.

 

Quarter ended 31 March 2021





Investment Management Services

Financial Planning

Charles Stanley Direct

Revenue


£m

£m

£m

£m

Fees

30.0

3.0

1.8

34.8

Commission

11.1

-

0.8

11.9

Interest

0.3

-

0.1

0.4

Total

41.4

3.0

2.7

47.1






Quarter ended 31 March 2020





Investment Management Services

Financial Planning

Charles Stanley Direct

Revenue


£m

£m

£m

£m

Fees

27.3

2.6

1.4

31.3

Commission

10.8

-

0.6

11.4

Interest

1.5

-

0.7

2.2

Total

39.6

2.6

2.7

44.9

 

 

Year-to-date 31 March 2021


Investment Management Services

Financial Planning

Charles Stanley Direct

Revenue


£m

£m

£m

£m

Fees

111.6

10.0

6.3

127.9

Commission

 

37.7

-

2.7

40.4

Interest

2.3

-

0.6

2.9

Total

151.6

10.0

9.6

171.2






Year-to-date 31 March 2020


Investment Management Services

Financial Planning

Charles Stanley Direct

Revenue


£m

£m

£m

£m

Fees

109.6

8.7

5.6

123.9

Commission

38.1

-

1.7

39.8

Interest

7.1

-

2.2

9.3

Total

154.8

8.7

9.5

173.0

 

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