St James’s Place tips over £100 billion mark in funds under management

St James Place designed by Scott Brownrigg, Cirencester, Gloucester, UK.

St. James’s Place plc, the Cirencester-headquartered wealth management group has tipped the £100 billion mark in funds under management.

The group has issued its latest update on new business inflows and funds under management for the nine months ended 30 September 2018.

New Investment and Funds under Management

  •   Gross inflow of funds of £11.75 billion (2017: £10.46 billion), up 12%.
  •   Continued strong retention of client funds – 96%.
  •   Net inflow of funds of £7.68 billion (2017: £6.66 billion), up 15%.
  •   Group funds under management – £100.6 billion (2017: £85.7 billion), up 11% since the beginningof the year and 17% over the twelve months.

    Andrew Croft, Chief Executive, said: “Building on the exceptional growth we achieved over the last two years, I am pleased to report continued growth in the third quarter. Gross flows, at £3.83 billion, were 7 per cent higher than the prior year comparator, which itself was up 28 per cent. This takes the year to date gross flows to £11.75 billion, growth of 12 per cent. With continued strong retention, net flows for the nine months were up 15 per cent to £7.68 billion, taking funds under management to a record £100.6 billion, up 11 per cent since the start of the year and 17 per cent over the twelve months.

    “We have delivered this continued growth despite both tough comparatives and a more challenging environment for the industry, once again demonstrating our resilience in these market conditions.

    There remains growing demand for high-quality financial advice, notwithstanding the current macro and geo-political uncertainty. With the strength and professionalism of the Partnership, together with the breadth of our client proposition, we have a major and sustainable competitive advantage. Consequently, we remain confident in our ability to grow our business in line with our stated objectives over the medium-term.”