St. James's Place funds under management reach record £103.5 billion

Published by

Nicky Godding

St James Place offices in Cirencester

St. James’s Place plc, the wealth management group which has its headquarters in Cirencester, has issued an update on new business inflows and funds under management for the three months ended 31 March 2019.

Gross inflows of funds reached £3.61 billion. The company continues its strong retention of client funds, at 95.9 per cent. The net inflow of funds was £2.18 billion and Group funds under management were a record £103.5 billion.

Andrew Croft, Chief Executive, said: “We have experienced a good start to the year, attracting £3.61 billion of gross inflows which, together with continued strong retention, has resulted in net inflows for the quarter of £2.18 billion – equating to 2.3% of opening funds under management (9.1% on an annualised basis). This performance demonstrates the resilience of our business through the current political and macro-economic uncertainty.

These net inflows, coupled with positive investment returns, have resulted in an 8.3% increase in Funds under Management to a record £103.5 billion at the end of March.

Whilst uncertainty will inevitably impact investor sentiment from time to time, it does not change the long-term needs of individuals. There remains both a growing market for trusted face-to-face advice in the UK and an advice gap that represents a major opportunity for us. Given the scale and quality of the St. James’s Place Partnership we are confident of both the resilience of the business in more difficult times and our ability to continue to grow the business over the medium to long term.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.