St James's Place Reports Fast Rise In AuM

Tom Burroughes

27 January 2017

St James’s Place, the UK wealth management house which has expanded into Asia, reported a surge in assets under management for 2016. Net inflows were up 26 per cent for the quarter at £2.1 billion ($2.6 billion). For the year, net inflows were up 17 per cent at £6.8 billion.

Gross inflows in the quarter rose 30 per cent, at £3.3 billion, it said in a statement yesterday.

Meanwhile, there was a 95 per cent client funds retention rate, it said. At the end of last year, total group funds under management were £75.3 per cent, surging 28 per cent for the year.

Across St James’s Place, there were 3,415 qualified advisors, up 10 per cent for the year.

"Alongside these fund flows, we’ve continued to expand our capacity to attract new clients and build upon our existing client relationships, both in the UK and in Asia, and this bodes well for our future growth," David Bellamy, chief executive, said in a statement.