British wealth manager St. James's Place (SJP) said that its gross inflow of funds under management during the third quarter of 2016 was £2.80bn, up 20.6% compared to £2.32bn a year ago.
The group's net inflow of funds under management stood at £1.66bn, a rise of 12.1% from £1.48bn in the third quarter of 2016.
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Group funds under management at the end of the third quarter totalled £71.4bn, a surge of 31% from £54.5bn from the corresponding period in 2015.
SJP CEO David Bellamy said: “The third quarter fell between two political turning points in the UK: the EU referendum result announced on 24 June and Theresa May’s first Brexit planning speech on 3 October. However, despite the backdrop of political uncertainty, it’s been very much business as usual and we’ve maintained good momentum in the business since the half year, with new investments in the most recent three months 21% higher at £2.8 billion.
“Together with the continued high retention of clients and their investments, this resulted in net inflows in the period of £1.66 billion. At £71.4 billion, Group funds under management are £12.8 billion higher than at the beginning of the year.”
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