Charles Stanley sees revenues drop amid 'difficult times'

Over the six months to 30 September, total FuMA shot up 12.9%, but the group said this was a reflection of the turbulent markets caused by the coronavirus pandemic. In fact, average FuMA during the six-month period dropped 9.4% compared to the average of £24.4bn during the same period last year. Meanwhile, though group revenue dropped over both three and six months, the group said it outperformed relative to average FuMA as a result of "an improved revenue margin, which increased by 4.4bps to 74.3bps". This was the result of an increase of discretionary funds as a proportion of tot...