LONDON (dpa-AFX) - St. James's Place plc (STJ.L) on Wednesday, in its update for the first quarter, said its gross inflows were 5.23 billion pounds, compared with 5.14 billion pounds last year. Net inflows slid to 1.53 billion pounds from 1.69 billion pounds a year earlier.
Closing funds under management stood at 216.94 billion pounds, versus 188.59 billion pounds last year, impacted by the decline in global markets.
Mark FitzPatrick, Chief Executive Officer, said: 'I am pleased to report a good first quarter for SJP. Against a backdrop of heightened geopolitical uncertainty and market volatility in the run-up to the tax year end, we attracted gross inflows of £5.2 billion and achieved strong funds under management (FUM) retention of 95.3%. Together, these delivered net inflows of £1.5 billion. The decline in global markets during the quarter impacted our FUM, which closed the period at £216.9 billion.'
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