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October 22, 2021

St. James’s Place reports nearly 25% increase in AuM in Q3

St. James’s Place (SJP) has reported a nearly 25% jump in its assets under management (AuM) on a year-on-year basis in the third quarter of 2021.

In the three-month period that ended on 30 September, the British wealth manager’s funds under management totalled £148.06bn. The figure was £118.7bn in the same period a year ago.

The company also reported net inflows of £2.6bn in Q3 2021, up from £1.4bn in Q3 2020.

Gross inflows increased from £3.05bn to £4.32bn on a year-on-year basis.

SJP chief executive Andrew Croft said: “I am delighted to report another strong quarter for St. James’s Place. Increased personal savings and improving consumer confidence have provided a favourable market backdrop and this, together with the great work our advisers do in supporting clients with their long-term financial planning, has driven gross inflows of £4.32bn for the quarter, up strongly against a soft comparator in 2020.

“Retention has remained robust, underpinning net inflows of £2.59bn for the period, and contributing to funds under management closing at £148.06bn, up 14% year to-date.

“There remains uncertainty around the near-term economic and investment market outlook, but our business is in great shape and we now anticipate the rate of gross inflow growth for the second half to be modestly ahead of our previous guidance issued in late July.”

Croft added that he expects gross inflow growth for the full year to be around 25%.

SJP’s wealth management service portfolio includes offering advice on pensions, investment and retirement planning among others.

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