Quilter inflows 'pleasing' in first quarter, sees tariff volatility
Quilter PLC on Wednesday reported ‘pleasing’ inflows in the first quarter of its financial year, and cautioned that its saw ‘significant volatility’ due to US tariffs in the current quarter.
The London-based wealth manager said assets under management & administration were flat at £119.6 billion, compared to the fourth quarter to December 31, 2024, but was up 7.2% from £111.6 billion at March 31, 2024.
The company said AuMA reflected ‘pleasing’ net inflows, which offset market declines and the sterling appreciation.
Core net inflows was £2.28 billion in the first quarter, multiplied from £810 million in the same quarter last year and up 16% compared to the fourth quarter.
Gross flows rose 34% to £4.89 billion year-on-year in the first quarter from £3.65 billion.
‘I am pleased with our first quarter flow performance which has continued the momentum seen in late 2024,’ Quilter Chief Executive Officer Steven Levin said.
Levin said these quarterly results continued to demonstrate the strength of the Quilter dual channel distribution model.
The CEO said the group had seen ‘significant volatility’ across all asset classes, as bond and equity markets in the second quarter thus far, in reaction to proposed US tariffs.
Quilter warned that its most recent estimate of AuMA is around 3% below the quarter end level which, if sustained, would provide a headwind to 2025 revenues and profitability.
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