St James's Place has seen its funds under management (FUM) surpass £100bn, helped by inflows into North American equities, despite a "more challenging environment" for the industry.
In an update for the nine months to 30 September, wealth manager St James's Place has seen net inflows of funds during the period of £7.7bn, up 15% from £6.6bn a year ago. Funds under management rose 17% to £100.6bn, up from £85.6bn a year ago. North American equities were the most popular area with clients putting £21.8bn into the sector, up from £18.8bn a year ago and representing 22% of total allocations. Fixed interest was also popular with £19.5bn invested, up from £15bn a year ago. Meanwhile, allocations to UK equities fell from £19.2bn to £18.7bn over the 12 months. SJP r...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
