St. James´s Place reports 21% jump in third quarter gross inflows

St.James´s Place reported a 21% rise in gross inflows for the latest three-month stretch to reach £2.8bn, with the political uncertainty after the referendum not having had any distinguishable impact on its day-to-day business.

The asset manager said it had seen good momentum since the half-year, with a 95% retention rate for new clients resulting in net inflows of assets under management of £1.66bn over the three months to 30 September.

At period end, group AuM stood at £71.4bn, for an increase of £12.8bn since the start of the year.

"Despite considerable political upheaval and market volatility, St James's Place (SJP) has issued an excellent Q3 2016 IMS, reporting inflows and FUM which comfortably exceeded both our and the market’s expectations (source of consensus: company).

"The discrete Q3 2016 figure highlighted, in particular, the virtues of its face-to-face advice model at times of unprecedented change in the political and market arenas," ShoreCap´s Eamonn Flanagan said in a research report sent to clients.

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