Quilter’s assets under management and administration (AuMA) declined 2% in the three months to the end of September to £96.9bn as its net inflows slowed, it announced in its third-quarter results released today (19 October).
Net inflows were £0.2bn for the three months, down from £0.3bn in the second quarter and £1bn for the same period in 2021. The company noted that while the third quarter is "typically a seasonally slow quarter", this was "exacerbated by increasing market volatility and cost-of-living pressures". Gross flows were also hit, declining to £2.4bn for the quarter, compared to £3.25bn in the same period the previous year. The company noted that its high-net-worth segment of the business had "moderately lower gross flows" at £519m and "stable retention" leading to net flows of £222m for the q...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
