British wealth manager St. James’s Place (SJP) said that its gross inflow of funds under management at the end of the first half of 2017 was £6.9bn, a 30% jump compared to £5.3bn a year ago.
The group’s net inflow of funds under management stood at £4.3bn for the half year ended 30 June 2017, a surge of 40% from £3.1bn the last year.
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Group funds under management totalled £83bn as at 30 June 2017, an increase of 26% from £65.6bn in the previous year.
SJP CEO David Bellamy said: “I am very pleased to report that the momentum we experienced in the first quarter has continued, with new and existing clients entrusting St. James’s Place with some £6.9 billion of new investments in the first six months, some 30% higher than the same period last year.
“Importantly, through the excellent work of our Partners and their staff in building and maintaining close relationships with clients, we are also able to report strong retention levels, resulting in net inflows for the period of £4.3 billion, up 40%. Group funds under management ended the half year at a new record high of £83.0 billion.”
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