St James’s Place has seen funds under management hit a record £41.8bn following a 5 per cent increase in assets in the past quarter.
In the three months to September 30, the wealth management firm saw a net inflow of funds under management of just more than £1bn, up on the same time last year but consistent with the first six months of 2013, where net inflows were £2bn.
The firm saw an overall strong increase in new business, but it was driven by the investment side as the pensions business saw a drop in new business during the quarter.
David Bellamy, chief executive of St James’ Place, praised “another quarter of strong growth in new investments” and said the firm and said he was confident that the firm could “deliver growth in line with our objectives during the final quarter of 2013 and beyond”.
