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St James's Place sees gross inflows surge 19% in Q1
StockMarketWire.com
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Gross inflows into St James's Place reached £4.79 billion for the first quarter of 2021, 19% higher than the same period last year as investor confidence improved and clients returned to longer-term investments.
Net inflows for the period were up 22% at £2.9 billion, representing a 9% of opening funds under management on an annualised basis.
Funds under management currently stand at £135.46 billion, a 5% increase since the beginning of the year.
Andrew Croft, chief executive of St James's Place, said: 'The moderate growth in new business that we saw in the early weeks of 2021 gathered pace through the quarter as confidence improved and clients sought to commit accumulated savings to longer-term investments.
'These results demonstrate once again the unerring commitment of the Partnership and our entire community to ensuring clients receive the highest quality advice and service. Although COVID-19 restrictions and economic uncertainty continue, the demand for trusted advice is stronger than ever and I am confident that, given the quality of the Partnership and the strength of our client proposition, we are well placed to deliver another good year for St. James's Place.'
Story provided by StockMarketWire.com
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