Quilter assets under management and administration fell 4% over the three months to 31 March 2022, despite positive net flows.
The £1bn inflows were not enough to stem a £4.6bn reduction in AUMA caused by market movements, as the total fell to £107.2bn. Both the firm's affluent and high net worth segments fell in lockstep, although the IFA channel and non-core businesses performed considerably better on a flow basis across the Quilter platform compared to other platforms. Quilter chief executive officer Paul Feeney said that while flows across the first two months of the year were "comfortably ahead of the comparable period in 2021", the Russian invasion of Ukraine had dampened sentiment throughout March. ...
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