British wealth manager St. James’s Place (SJP) said that its group funds under management at the end of 30 September 2018 totalled £100.6bn, an increase of 17% from £85.7bn a year ago.
Gross inflow of funds under management during the third quarter of 2018 was £11.75bn, a 12% rise from £10.46bn last year.
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The group’s net inflow of funds was £7.68bn at the end of September 2018, up 15% compared to £6.66bn in the previous year.
SJP CEO Andrew Croft 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% higher than the prior year comparator, which itself was up 28%. This takes the year to date gross flows to £11.75 billion, growth of 12%.
“With continued strong retention, net flows for the nine months were up 15% to £7.68 billion, taking funds under management to a record £100.6 billion, up 11% since the start of the year and 17% 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.”
