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St James's Place notes FuM up 28% for the year

26 January 2017 07:44

St. James's Place said group funds under management totalled £75.3bn at Dec. 31, 2016, or up 28% for the year.

It said that Gross inflow of funds was £3.3bn, up 30% in the quarter that finished end-December 2016. This took the total for the year to £11.4bn, up 23%.

STJ reported continued strong retention of client funds at 95%.

Net inflow of funds was £2.1bn, up 26% in the quarter and 17% for the year at £6.8bbn.

"The momentum we reported in October continued into the final quarter," said CEO David Bellamy in a statement.

"We achieved record flows which, together with characteristically high retention of clients and the strong investment returns they enjoyed, lifted funds under management to £75.3bn," he added.

"Alongside these fund flows, we've continued to expand our capacity to attract new clients and build upon our existing client relationships, both in the UK and in Asia, and this bodes well for our future growth."

Story provided by StockMarketWire.com

Related Company: STJ

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