British wealth manager St. James’ Place (SJP) has seen net inflow of funds under management (FuM) reach £1.2 billion in the first quarter of 2014, up 26% from the £0.9 billion earned at the same point last year.

This has led to an overall total of £45.8 billion FuM, a 17% increase over the last twelve months and £1.5 billion higher since the beginning of the year. Much of this was attributed to strong retention of clients’ funds with 95% being kept.

David Bellamy, chief executive, said: "Against the strong first quarter comparatives of last year and some volatility in equity markets, our partners attracted £1.8 billion of new single investments, up 22% on the same period last year. Couple with strong retention of existing client funds, we are able to report a 26% increase in net inflows of £1.2 billion."

On further plans this year, he added: "The fact that we are able to attract and retain some of the most respected asset managers from around the world is a strong endorsement for our investment proposition. Whilst providing real added value to our UK based clients, it will also underpin our expansion into the Far East expatriate market where we are close to receiving the necessary regulatory approvals to complete the acquisition of the Singapore based Henley Group."