St.James's Place beats forecasts for third quarter net inflows
St.James's Place continues to attract fresh funds at a steady and better-than-expected pace.
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For the three months to 30 September, the asset manager posted £2.36nbn of net inflows of new funds under management (Numis: £2.0bn), compared to £1.66bn in the same period one year ago.
Group funds under management meanwhile jumped from £71.4bn in 2016 to £85.7bn over the course of the third quarter.
Year-to-date, net inflows were 41% higher to £6.7bn and group FuM up by 14%. At 24%, FuM invested in UK equities continued to account for the biggest slice, followed by North American stocks at 22%.
In terms of the outlook, management said: "Looking ahead, whilst political and macro uncertainties persist, we are confident in the scale and quality of our relationship-based approach to the management of our clients' financial affairs."