St James's Place third-quarter net inflows up 17%

Wealth manager St James’s Place posted a 17% rise in third-quarter net inflows to a record £1.48bn, taking funds under management to £54.5bn.

Over the nine months to 30 September, net inflows were up 12% to £4.15bn.

The company said retention of clients remained strong, at around 95%.

Chief executive David Bellamy said: “Despite the volatility across global stock markets during the third quarter of 2015, our business sustained strong growth momentum. New investments were 20% higher at a record £2.32bn which, together with the continued high retention of clients and their investments, resulted in record net inflows.”