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2018-10-23 | Beijing

St. James’s Place Continues Impressive Growth Passing £100b in client funds under management

 

On October 23rd 2018, St. James’s Place released its Q3 update on the FTSE passing the £100bn under management for the first time. This year's main highlights include:

  • Gross inflow of funds of £11.75 billion (2017: £10.46 billion), up 12%
  • Continued strong retention of client funds – 96%
  • Net inflow of funds of £7.68 billion (2017: £6.66 billion), up 15%
  • Group funds under management – £100.6 billion (2017: £85.7 billion), up 11% since the beginning of the year and 17% over the twelve months

Andrew Croft, Chief Executive, commented:

"Building on the exceptional growth we achieved over the last two years, I am pleased to report continued growth in the third quarter. Gross flows, at £3.83 billion, were 7% higher than the prior year comparator, which itself was up 28%. This takes the year to date gross flows to £11.75 billion, growth of 12%. With continued strong retention, net flows for the nine months were up 15% to £7.68 billion, taking funds under management to a record £100.6 billion, up 11% since the start of the year and 17% over the twelve months.

There remains growing demand for high-quality financial advice, notwithstanding the current macro and geo-political uncertainty. With the strength and professionalism of the Partnership, together with the breadth of our client proposition, we have a major and sustainable competitive advantage. Consequently, we remain confident in our ability to grow our business in line with our stated objectives over the medium-term.”

Source: St. James's Place

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