Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

142.50p
   
  • Change Today:
      1.00p
  • 52 Week High: 148.20p
  • 52 Week Low: 92.70p
  • Currency: UK Pounds
  • Shares Issued: 1,404.11m
  • Volume: 569,485
  • Market Cap: £2,000.85m
  • RiskGrade: 118
  • Beta: 1.45

Quilter AuMA take a slight dip in third quarter

By Josh White

Date: Wednesday 18 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Quilter reported assets under management and administration (AuMA) of £101.4bn as of 30 September on Wednesday - a slight dip from the £101.7bn recorded in June.
The FTSE 250 company put the marginal decline down to market conditions, the customary seasonal slowdown during the summer, and lower persistency levels in the Independent Financial Advisor (IFA) channel.

It said clients drawing down savings to combat the effects of rising inflation contributed to the shift.

In terms of net inflows, Quilter's core business saw £1m in net inflows during the third quarter - a notable contrast to the £324m reported for the same period in 2022.

Within the Quilter channel, the high net worth segment demonstrated a year-to-date annualised net inflow of 16%, while the Affluent segment showed an 11% annualised net inflow, indicating consistent growth.

Furthermore, the Quilter channel's new business gross inflows remained steady, reaching £2.7bn for the year-to-date - a 7% increase over 2022 levels.

Notably, the IFA channel saw a 20% year-on-year increase in gross inflows onto the Platform, reaching £1.3bn in the third quarter.

In contrast, the High Net Worth segment experienced portfolio repositioning, leading to outflows in the IFA and directly sourced channel, although that was partially offset by net inflows in the Quilter channel.

Non-core net outflows of £119m during the third quarter were consistent with previous quarterly figures after adjusting for one-off fund closures in the second quarter.

Quilter's productivity remained impressive, with annualized gross sales per Quilter adviser reaching £2.7m for the third quarter, marking a 23% increase compared to the previous year.

"I am pleased to have delivered steady AuMA in our seasonally slowest quarter in what remains a challenging market for new business," said chief executive officer Steven Levin.

"The Quilter channel continues to drive strong net flows in both our Affluent and High Net Worth segments.

"Quilter channel gross sales per Quilter Adviser remained at robust levels during the quarter and were over 20% higher than that achieved in the prior year comparative period."

Levin noted that both gross and net flows from the Quilter channel in both segments were up on the comparative quarter a year ago, despite overall market flows expected to have declined over the period.

"We continue to grow our share of new business from IFAs onto our Platform, with the third quarter experiencing a 20% increase versus Q3 2022.

"We were delighted to have the strength of our competitive position recognised with our recent award for Best Large Platform as voted by advisers at the Schroders UK Platform Awards.

"Our open and unbundled business model positions us well from both a competitive and consumer duty perspective."

At 0833 BST, shares in Quilter were down 0.95% at 83.3p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Quilter Market Data

Currency UK Pounds
Share Price 142.50p
Change Today 1.00p
% Change 0.71 %
52 Week High 148.20p
52 Week Low 92.70p
Volume 569,485
Shares Issued 1,404.11m
Market Cap £2,000.85m
Beta 1.45
RiskGrade 118

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.49% above the market average43.49% above the market average43.49% above the market average43.49% above the market average43.49% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
87.95% above the market average87.95% above the market average87.95% above the market average87.95% above the market average87.95% above the market average
82.14% above the sector average82.14% above the sector average82.14% above the sector average82.14% above the sector average82.14% above the sector average
Income
33.42% above the market average33.42% above the market average33.42% above the market average33.42% above the market average33.42% above the market average
44.62% below the sector average44.62% below the sector average44.62% below the sector average44.62% below the sector average44.62% below the sector average
Growth
64.59% below the market average64.59% below the market average64.59% below the market average64.59% below the market average64.59% below the market average
41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 7
Sell 2
Strong Sell 0
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Quilter Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-24 18-Apr-24
Paid 23-Sep-24 28-May-24
Amount 1.70p 3.70p

Trades for 21-Nov-2024

Time Volume / Share Price
16:35 355,971 @ 142.50p
16:35 5,315 @ 142.50p
16:35 6,333 @ 142.50p
16:35 709 @ 142.50p
16:35 7,147 @ 142.50p

Quilter Key Personnel

CFO Mark Satchel
CEO Steven Levin

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