Quilter produced this performance despite a 4percent decline in assets under management and administration, to £109.3bn, as a result of lower asset prices. However, the share price climbed to R26.15 a share during the day and closed 5.05percent higher at R26 on the JSE yesterday.
Chief executive Paul Feeney said although Brexit did create uncertainty in the market, however, the group was resilient to withstand those challenges.
“The year 2019 will throw up other challenges for Quilter. Brexit and market uncertainty are having an impact upon investors’ appetite to put new money to work,” Feeney said.
Quilter was listed separately on the London Stock Exchange and the JSE last June after a managed separation from Old Mutual plc. During the period net client cash flow, the difference between money received from and returned to customers during the period for the group or for the business indicated, was £4.7bn, representing 5percent of opening assets under administration.