St James's Place assets up as it defies volatile markets

Wealth manager St James's Place continued to defy pressure from global financial turmoil during 2011 with a six pe rcent rise in funds under management as new client money offset the impact of weak markets.

In a trading statement, the firm said the net inflow of funds under management during 2011 was £3.3bn, bringing total funds to £28.5bn.

Total new business, measured using a combination of single and regular premiums, was up 10 per cent to £642.3m over the year, meeting the expectations of analysts.