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James Qualtrough (Jamesq) is the Founder and Editor of Isle News and is based on the Isle of Man. Isle News is a news site for the UK offshore jurisdictions of the Isle of Man, Jersey and Guernsey.

Collins Stewart Wealth Management reports resilient performance with net-positive new business

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Related category: Finance & Business, Guernsey
(Isle News) Author: Jamesq on Wednesday, May 20, 2009

Isle News, 20 May 2009 – The Wealth Management division of Collins Stewart plc, primarily based in Guernsey and Jersey, has been highlighted for its resilient performance in the current difficult market conditions, according to the Group’s Interim Management Statement issued on 19 May.

Collins Stewart plc, the financial advisory group reported a net cash figure amounting to £77.5m, compared with £57.8m at the same point in 2008. The Group’s strong net cash position would support the making of suitable acquisitions for further growth within the Wealth Management division.

Charlie Roger, Head of Wealth & Fund Management at Collins Stewart in Guernsey, said:

“The Wealth Management business has continued to perform solidly into 2009. In contrast to 2008, we have seen net positive net business flows so far in 2009 with highlights being our appointment as investment manager to our first defined benefit pension scheme, some new business from our recently opened Geneva office and some inflows resulting from the restructuring of our multi-manager funds we did in 2008.

“Collins Stewart’s independence, balance sheet strength and strong net cash position has undoubtedly been a source of great comfort for our clients during this generally uncertain period. Furthermore, these strengths will enable us to investigate growth opportunities as the industry consolidates.

“The engine of the Wealth Management division remains in the Channel Islands and that heritage continues to provide us with a differentiated appeal in the wealth and fund management industries. We enjoy a powerful combination of local excellence, in Guernsey, Jersey and Isle of Man, UK and Geneva backed by the international expertise of the Group.”

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