St James's Place Q1 gross inflows up 16%

26th Apr 2016 07:01

(ShareCast News) - Wealth manager St James's Place said first quarter gross inflow of funds under management increased by 16% to £2.45bn from £2.11bn.Net inflows grew to £1.36bn from £1.32bn bringing group funds under management £62bn compared with £55.8bn a year ago."Against a backdrop of continued uncertainty across global stock markets, our business is performing strongly," said chief executive David Bellamy."The fact that the Chancellor avoided further changes to Pension tax relief and chose to give further encouragement to individual savings through a higher limit for ISAs in 2017, the introduction of a lifetime ISA and reduced Capital Gains tax, bodes well for the future."