Funds under management at wealth manager St James's Place have hit a record £31bn.
The group said in a first quarter interim management statement that a £700m net inflow of funds under management (FUM) was down on the £770m recorded in the same period last year.
However, combined with the performance of existing funds, total FUM increased by £2.5bn in the period to £31bn, a record for the company.
Total new business on an annual premium equivalent basis was marginally lower in Q1 2012 compared with last year, at £152.6m.
However, pension single investment new business of £522m was up from the £410m in the first three months of 2011.
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record