St. James's Place assets rise to record high

23rd Jan 2014 08:46

- Full-year assets boosted by recovering markets, strong demand- Total new business up 16 per cent- Confident of continued momentumFTSE 250-listed St James's Place said funds under management for the full-year rose 27 per cent, buoyed by strong sales and as financial markets recovered.Assets at the wealth manager rose to a new record high of £44.3bn in the 12 months to December 31st from £34.8bn the same time a year earlier. Total new business, including that from third parties, rose 16% to £865.2m. New single investments rose 22% to £7.2bn.St.James's Place reported retention of clients' funds under management of 95%.Chief Executive David Bellamy commented: "I am confident that the growth we achieved in 2013, in both new investments and Partner numbers, bodes well for the continued momentum in our business and for our future growth in line with our medium term objectives."CJ