St James's Place client funds reach £179bn due to investment returns

Client funds reach record £179bn in first quarter of the year

Sahar Nazir
clock • 1 min read

St James’s Place (SJP) has reported an increase in client funds under management (FUM) to £179bn, up from £153.6bn for the three months ended 31 March 2024.

The wealth manager attributed this rise to a strong period of investment returns, as its "investment proposition continues to deliver for clients". However, the firm's net inflows were at £710m, which is lower than the £2bn reported in the same quarter last year. Despite this, SJP said its FUM benefited from net inflows, "further extending our track record of generating net inflows every quarter". Gross inflows were at £4bn which were lower year-on-year, in part due to the fewer number of working days in March this year ahead of the key tax year end period. For the year to 5 April,...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Majority of un-advised with stock investments have no financial plan

Majority of un-advised with stock investments have no financial plan

‘Many are realising the need for expert financial support in later life’

Hope Coumbe
clock 12 June 2024 • 1 min read
Financial wellbeing — what are advisers and planners measuring?

Financial wellbeing — what are advisers and planners measuring?

'Money should be our servant, and not our master'

Chris Budd
clock 12 June 2024 • 3 min read
Targeted support could lift 5 million people out of advice gap

Targeted support could lift 5 million people out of advice gap

‘Targeted support could move the dial and present business opportunities’

Isabel Baxter
clock 12 June 2024 • 1 min read