LONDON (dpa-AFX) - St. James's Place plc (STJ.L) reported third-quarter gross inflows of £4.32 billion compared to £3.05 billion last year. Net inflows rose to £2.59 billion £1.44 billion in the prior year period.
Andrew Croft, Chief Executive, said, '...Increased personal savings and improving consumer confidence have provided a favorable market backdrop and this, together with the great work our advisers do in supporting clients with their long-term financial planning, has driven gross inflows of £4.32 billion for the quarter, up strongly against a soft comparator in 2020.'
The company noted that the retention has remained robust, underpinning net inflows of £2.59 billion for the period, and contributing to funds under management closing at £148.06 billion, up 14% year to-date.
Looking ahead, the company expects growth in gross inflows for the full year to be around 25%.
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