St James’s Place dashes to punchy rise in funds

 
Michael Bow
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WEALTH group St James’s Place continued its strong run of form last quarter after it beat analyst estimates for funds under management.

The FTSE 100 group, led by chief executive David Bellamy, reported assets of £55.8bn, ahead of estimates of £55.1bn. The group has added £10bn of assets in the last 12 months.

New business for the quarter ending March rose 13 per cent while net inflows totalled £1.3bn, nine per cent higher than last quarter.

Bellamy said the company was exploring growth opportunities overseas and expected to something towards the end of the year.

“Our shareholders are happy and funds under management are the ultimate driver,” Bellamy added. “It’s very solid and steady.”

SJP also published the findings from its annual research into its customer base. The poll, which gained 47,000 responses, found 43 per cent were concerned about the UK exiting the EU and 54 per cent were nervous about the outcome of the General Election.