Posted By Global Banking and Finance Review
Posted on January 22, 2025
(Reuters) -British wealth manager Quilter reported on Wednesday a rise in fourth-quarter managed assets, driven by nearly 2 billion pounds ($2.46 billion) in net inflows from its wealthy clients.
Despite concerns over the budget and its impact on investor sentiment in the UK, Quilter reported its strongest quarter of the year.
The money manager said new business momentum remained strong in its High Net Worth segment, while overall business was solid despite higher outflows in October 2024 ahead of the Labour government's budget.
The London-based company reported assets under management and administration of 119.4 billion pounds at the end of December, up from 116.2 billion pounds at the end of September.
($1 = 0.8121 pounds)
(Reporting by Yamini Kalia and Shashwat Awasthi in Bengaluru; Editing by Sherry Jacob-Phillips)