29 April 2021 | 07:52am
StockMarketWire.com - Gross inflows into St James's Place reached £4.79 billion for the first quarter of 2021, 19% higher than the same period last year as investor confidence improved and clients returned to longer-term investments.
Net inflows for the period were up 22% at £2.9 billion, representing a 9% of opening funds under management on an annualised basis.
Funds under management currently stand at £135.46 billion, a 5% increase since the beginning of the year.
Andrew Croft, chief executive of St James's Place, said: 'The moderate growth in new business that we saw in the early weeks of 2021 gathered pace through the quarter as confidence improved and clients sought to commit accumulated savings to longer-term investments.