St. James’s Place (SJP) said that its funds under management (FuM) totalled £103.5bn at the end of the first quarter of 2019.
This marks an increase of 8% from £89.91bn in the previous year.
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North American equities accounted for majority of the FuM at £21.6bn, while UK equities contributed £18.7bn.
Fixed interest, European equities and Asia & Pacific equities added £18.5bn, £11.3bn, and £10.8bn in funds, respectively.
Alternative assets accounted for £8.1bn of funds.
At the end of December 2018, SJP’s funds under management were £95.6bn.
The group’s net inflows were £2.18bn at the end of March 2019, down 16% from £2.60bn a year ago.
Gross inflow of funds under management was £3.61bn as at 31 March 2019, versus £3.91bn last year.
St James’sPlace’s pensions business accounted for majority of the gross inflows during the period. The business reported £2.02bn of gross inflows.
The unit trust, ISA and DFM business accounted for £1.09bn in gross flows while the investment business added £500m of gross inflows.
St James’s Place has dominated the mass-affluent wealth management market in the UK in recent years, something it appears Schroders and Lloyds’ joint venture is aiming to challenge.
St James’s Place CEO Andrew Croft said: “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.”
