St James's Place bucks market trend with net inflows up 14%

21st Jan 2016 07:51

(ShareCast News) - Wealth fund manager St James's Place bucked the trend of market volatility reporting a 14% rise in net inflows to £5.09bn.Retention of client funds was 95% and funds under management were up 13% for the year to £58.6bn.Gross inflows were up 17% at £9.24bn for the full year, boosted by a strong last quarter where they were up 20% to £2.52bn.Chief executive David Bellamy said the final quarter performance was "particularly pleasing" in the context of global market turmoil."Alongside these strong fund inflows and supported by the success of our Academy and expansion in Asia we've increased the size of our Partner and adviser teams by 6.2% and 9.8% respectively. This increase in our capacity to attract new clients and to build upon existing relationships, bodes well for our future growth," he said.