Quilter plc (QLT.L), on Wednesday, reported that group assets under management and administration or AuMA was £111.6 billion at the end of March 2024 increased by 5% on 31 December 2023 levels.
The company attributed the growth to improved net inflows and higher equity markets, partially offset by rising bond yields in the quarter which reduced the market value of bond portfolios.
Average AuMA for the first quarter totaled £108.3 billion, 6% ahead of the 2023 full-year average of £102.1 billion.
Steven Levin, Chief Executive Officer of Quilter plc, said, "We are particularly pleased that our Platform achieved net flows of over £1 billion during the quarter, representing the strongest quarter for Platform net inflows during our time as a listed company. Moreover, a 41% year-on-year growth in first quarter gross new business from IFAs in the Affluent segment led to an over 400% increase in net inflows from IFAs onto the Quilter Platform in the quarter."
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