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May net inflows fall slightly at St James's Place
23rd Jun 2020 07:03
(Sharecast News) - Net inflows at wealth manager St James's Place fell to £0.67bn in May amid market volatility caused by the coronavirus.
The figured compared with £0.73bn a year earlier. Funds under management benefited from positive net inflows and the continuing recovery of world stock markets to end the month at £112.6bn, the company said on Tuesday.
"We remain encouraged by the inflows we are continuing to experience and expect June gross inflows to be similar to May, though the short to medium-term impact of COVID-19 and economic volatility on our flows remains uncertain," said chief executive Andrew Croft.
The figured compared with £0.73bn a year earlier. Funds under management benefited from positive net inflows and the continuing recovery of world stock markets to end the month at £112.6bn, the company said on Tuesday.
"We remain encouraged by the inflows we are continuing to experience and expect June gross inflows to be similar to May, though the short to medium-term impact of COVID-19 and economic volatility on our flows remains uncertain," said chief executive Andrew Croft.