St James’s Place (SJP) revealed this morning that its assets under management had reached a record £118.7 billion at the end of Q3, with inflows only slightly muted by the advent of the pandemic.
Net inflows in the third quarter were £1.44 billion, down 32 percent on Q3 2019 (£2.11 billion). Based on the first nine months of the year, net inflows were down only 9 percent, to £5.96 billion.
Chief executive Andrew Croft described the performance as “robust”.
“Outflows for the quarter were lower than the same period last year as we continued to achieve very strong retention of existing client funds…This performance highlights the strength and resilience of our business in these more difficult times,” Mr Croft said.
Mr Croft said looking ahead, the increased uncertainty linked to Covid-19 would “inevitably” influence client investment confidence and consequent decision-making.
“However, drawing o...