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Charles Stanley Managed Funds Decline on ‘Market Uncertainty’

July 29 (Bloomberg) -- Charles Stanley Plc, a U.K. stockbroker and fund manager, reported a 4.7 percent decline in funds under management in the fiscal first quarter “against a background of continued market uncertainty.”

Funds under management dropped to 12.2 billion pounds ($19 billion) on June 30 from 12.8 billion pounds at the end of March, the London-based company said in a statement today. Revenue rose 11 percent to 28.9 million pounds.

The benchmark FTSE 100 Index fell about 13% during the quarter.

To contact the reporter on this story: Sakshi Sharma in London at ssharma121@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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