24th Apr 2025 09:44
(Alliance News) - St James's Place PLC on Thursday reported sharply higher net and gross inflows in the first quarter, and it said it is seeing good client engagement in April amid the recent market volatility.
The Cirencester, Gloucestershire-based wealth manager reported funds under management totalled GBP188.59 billion on March 31, down 0.9% from GBP190.21 billion at the start of 2025 but up 5.3% from GBP179.04 billion a year prior.
Gross inflows during the three-month period amounted to GBP5.14 billion, against GBP3.97 billion a year ago, while net inflows more than doubled to GBP1.69 billion from GBP710 million.
"We are pleased to have built momentum in new business in recent quarters, and we have continued to see good levels of client engagement and activity so far in April," says Chief Executive Officer Mark FitzPatrick.
"Looking forward, macroeconomic uncertainty and market volatility create a challenging environment for savers and investors, but one which underlines the value that trusted financial advice delivers to clients. Our advisers continue to help clients navigate these conditions and stay on track to achieve their long-term financial goals and aspirations. We have a long history of net inflows during all phases of the economic cycle, and the quality of the partnership and the strength of our advice-led business model positions us well for the future."
St James's Place shares were down 0.9% to 903.20 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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