Collins Stewart's AUM up 36% as acquisitions completed

Collins Stewart Wealth Management (CSWM) enjoyed a 36% year-on-year jump in assets under management in the first half of the year as two strategic acquisitions were completed.

CSWM's acquisition of Guernsey-based Corazon Capital and IFA firm Andersen Charnley in the first six months of the year gave the firm a further £0.7 billion of discretionary assets under management taking its total discretionary assets to £2.5 billion.

The firm also enjoyed organic net inflows of £0.1bn of assets, with the majority coming at the more cautious end of the risk spectrum reflecting continued jitters in the markets, the firm said. 

As at 30 June 2010, CSWM managed and administered some £6.8bn of assets, with the discretionary assets up 47% in the year since 30 June 2009 to £2.5 billion.

Although the last year has seen CSWM's aggressive buying spree continue,  the Channel Islands-based company said that focusing on further organic growth would be a priority going forward.

Head of Collins Stewart Wealth Management Neil Darke (pictured) said: '[The] acquisitions of both Corazon Capital and Andersen Charnley during the first half, [has] put us on track to achieve our stated ambition of growing assets to £10bn by end 2012.

'The integration of both businesses is proceeding well and continuing this process will be our primary focus in the second half together with renewed efforts on organic growth.  To support our organic efforts, we have invested in and diverted resources towards our intermediary distribution efforts.'