Quilter, the London-based wealth manager spun out of Old Mutual, is bracing for a tough end to 2020 after reporting a first-half drop in profit during what it called “a uniquely challenging environment”.

“It’s not any specific thing that we think is going to hurt our revenue other than the fact that when you’re managing through this crisis, you manage cautiously,” CEO Paul Feeney said in an interview after the company reported first-half net inflows of £1.1bn (R25.4bn), up from £300m in the previous matching period.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now