20th Apr 2022 08:45
Quilter PLC - London-based wealth manager - Reports a decline in the market value of its investments in the first quarter as a result of market uncertainty linked to Russia's invasion of Ukraine. Assets under management and administration fell by 4% to GBP107.2 billion as at the end of March 31, compared to GBP111.8 billion at the end of December 31. But assets under management and administration rose by 6% from GBP101.0 billion in the same period last year.
Net inflows were GBP1.04 billion in the first quarter ended March 31, flat year-on-year. Quilter Chief Executive Paul Feeney says net inflows in the first two months of the year were comfortably ahead of the comparable period in 2021, but the invasion of Ukraine in late February hit investor sentiment for most of March. Quilter warns that markets may remain challenging.
Johannesburg current stock price: ZAR27.52, down 3.1% on Wednesday
12-month change: down 17%
London current stock price: 139.20 pence, down 4.3%
12-month change: down 16%
By Artwell Dlamini; [email protected]
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