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