SJP funds under management jump 11% to £25bn

Funds under management at St James's Place climbed £2.4bn to £24.8bn in the three months ending 30 September, and have now doubled over the last five years.

The company says a "welcome" recovery in global stock markets helped it achieve a net inflow of FUM of £700m in the period, up £100m on last year. It said it continues to retain 95% of existing clients' funds. Elsewhere, total new business on an APE basis jumped 30% to £136.5m, again compared with 2009. Total single investment advanced 32% from £0.8bn last year to £1.1bn in Q3. Regular premium business increased 23% to £26m, thanks largely to a 31% jump in pensions business regular premiums. "We are delighted with the continued momentum in new business and investment inflows ...