The Jersey office of investment management firm Quilter Cheviot is celebrating double digit percentage growth in its funds under management (FUM) during 2014.

The team, which added £243m to its funds under management last year, now has £1.25bn FUM. This figure has grown by 24% from year-end 2013, when the business had £1,007m FUM.  

With a 23-strong team, the largest discretionary investment management team in the Channel Islands, operating from its office on The Parade in St Helier, the firm manages assets on behalf of private clients, trusts and professional intermediaries in the Channel Islands, the UK and internationally.

Head of the Jersey office, Tim Childe, said:  “We’re very pleased to have achieved such significant growth, which is testimony to the hard work of our team and the excellent relationship we have with both clients and IFAs both here in the Channel Islands and internationally.

“Even in sometimes challenging market conditions, we’ve grown our asset base quite significantly and we look forward to building on this success in the next 12 months.”

Nationally, the firm, which operates across 12 locations in the UK, Ireland and the Channel Islands, has in excess of £16.7 billion* of funds under management. It is expected to build on this strong performance even further following its recent acquisition by Old Mutual Wealth, which has circa £100 billion of private clients’ funds under management. The combined assets of Quilter Cheviot and Old Mutual Wealth mean they are now the largest wealth management business in the United Kingdom.

Quilter Cheviot focuses primarily on structuring and managing discretionary portfolios and funds for private clients, charities, trusts, pension funds and intermediaries.

Investors should remember that the value of investments and the income from them can go down as well as up.

*as at 31 December 2014.