Tilney Smith & Williamson has seen its assets under management fall £1.9bn over the past quarter, despite net inflows of £0.5bn over the same three months, according to its latest trading update.
Group chief executive of the firm, which will adopt its new name Evelyn Partners over the summer, Chris Woodhouse attributed the AUM fall to "tougher market conditions," although the £55.8bn figure is still higher than this point last year. Operating income across the group was up 9.3% on the same period last year to £146.9m over Q1, with the firm's financial services and professional services businesses performing particularly well, the CEO stated. NatWest considering Tilney Smith & Williamson takeover offer - reports Woodhouse said: "We have a clear and differentiated strategy in...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
