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St James's Place FUM reaches £83bn

27 July 2017 08:33

St James's Place (STJ) saw a 40% increase in net inflows of funds under management to £4.3bn in the six months to 30 June.

Group funds under management reached £83bn, up from £65.5bn a year earlier.

In St James's Place Partnership, the total number of advisers grew 3.7% since the start of the year to 3,540. New business profits were £343m, up from £228.9m in the first half of 2016.

The underlying profit before shareholder tax was £106.3m, compared with £73.8m a year ago.

The company hiked its dividend by 25% to 15.41p per share.

David Bellamy, chief executive, said: "Setting aside the political and macro-economic backdrop, the challenges and responsibilities that individuals face, when considering how to manage their wealth, remain. The implications of sustained low interest rates, longer life expectancy, enhanced pension freedoms and greater emphasis on individual financial responsibility, all highlight the continued need for and importance of sound, personal and trusted advice."

At 8:33am: (LON:STJ) St Jamess Place PLC share price was +20p at 1240p

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