LONDON (ShareCast) - (Sharecast News) - Quilter said on Tuesday that assets under management and administration (AuMA) edged up in the first quarter, as it hailed "good momentum" in the business.
From the end of December 2022 to the end of March 2023, AuMA rose 2% to £101.9bn. This reflected net inflows and a modest pick-up in equity markets and slightly lower bond yields in the quarter, Quilter said.

The company said net inflows of £313m were below the previous year, which reflected the period prior to the start of the conflict in Ukraine.

Chief executive Steven Levin said: "I am pleased with the trends we have seen in our first quarter flows. From a low base around the end of the year, each subsequent month has demonstrated an improvement on the prior period.

"There is good momentum in our business. In-flows in the Quilter channel remain strong, with continued double digit net flows as a percentage of opening AuMA in both our high net worth and affluent segments. The pleasing improvement in IFA flows onto our UK Platform was supported by modestly higher activity around tax-year end.

"We remain cautiously optimistic that, over the course of 2023, we will continue to see a gradual return of investor confidence and improving market levels. Our expectation is that this will support an improvement in flows over the course of the year."

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