Mattioli Woods has struggled to maintain its assets under management (AUM) as inflation and negative market movement have placed a strain on the firm.
The wealth and asset manager saw gross discretionary AUM drop 7.8%, from £5.1bn to £4.7bn, a trading update for the year ended 31 May 2023 yesterday (05 July) shows. Despite the drop in AUM, the firm saw inflows of £577m, at 11.3% of opening assets, were offset by negative market movements. Chief executive and co-founder Ian Mattioli pointed to a 3% growth in revenue despite "the sustained market and economic complexity". He credited the "strong growth" within the firm's core pension consultancy and employee benefits business segments, which saw client demand boosted after the chan...
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