October 24, 2018 / 6:33 AM / 23 days ago

Quilter posts lower year-on-year third quarter cash flow

LONDON (Reuters) - British wealth manager Quilter (QLT.L) on Wednesday posted a third quarter net client cash flow of 1.1 billion pounds, excluding Quilter Life Assurance, compared with 1.9 billion in the third quarter of 2017.

Quilter, spun out of Anglo-South African insurance company Old Mutual earlier this year, said assets under management and administration rose 3 percent year to date to 118.1 billion pounds despite mixed global market performance.

The FTSE 100 Index fell 1.7 percent during the third quarter.

Net inflows during the period were 2.2 billion pounds, it said in a statement.

Reporting by Dasha Afanasieva, editing by Sinead Cruise

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