Quilter reports rise in annual AuM

Fund manager Quilter on Tuesday reported a rise in full-year assets under management (AuM), supported by net inflows and positive market movements.

The company, which was demerged from Old Mutual, said AuM for the year to December 31 rose to £117.8bn from £110.4bn a year earlier.

Fourth-quarter gross sales came to £2.8bn, with net inflows of £0.4bn, compared to £0.5bn in 2019. Annual net flows were £1.6bn, up from £0.3 billion in 2019.

Chief executive Paul Feeney said: 'It is in challenging times like these that our advice-based model comes to the fore and this is reflected through the higher levels of client retention experienced in 2020, at 92% versus 88% in 2019.”