St James’s Place Wealth Management has increased its funds under management to £39bn, up 12% year to date and 26% over the past 12 months.
Net inflow of funds under management for the quarter was £947 million, compared to £698 million year ago.
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The firm in its interim statement said that it continued 95% retention of existing client funds.
During the quarter, the company made total new investments of £1.6 billion, an increase of 28% compared to £1.3 billion made a year ago.
Commenting on the results, St James’s Place chief executive David Bellamy said: "I am very pleased to be reporting another quarter of strong growth in new investments, which combined with positive equity markets, and specifically the performance of our client funds, has seen our funds under management increase by £4.2 billion to £39 billion."
Bellamy added that the growth was driven by improved investor sentiment, a sustained low interest environment, client satisfaction and growth in adviser numbers.
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