St James’s Place (SJP) reported a drop in its funds under management during the third quarter as surrenders and investment loss dented the impact of flows.
In the results published today (20 October) SJP reported £143.1bn in funds under management, compared to £148.1bn at the end of the third quarter 2021. The company reported £4.05bn gross inflows for the period, compared to £4.3bn for the same period last year. The flows were offset by £1.4bn in surrenders and £1.3bn in investment loss. Surrenders is SJP's term for money withdrawn from plans that was not scheduled or planned. Net inflows stood at £2.2bn for Q3 this year, compared to £2.6bn for Q3 2021. The mix of funds under management has shifted year on year, with an increase i...
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