St James's Place sales jump 13% in Q3

Financial services group St James's Place (SJP) recorded a 13% increase in sales to £154m in the third quarter, it said today.

Total new business on an APE basis was £153.9m, up from £136.5m in the same period last year. There were some £1.3bn of new investments, bringing the company's nine-month gross inflows to £4bn, up 14% on the same period last year. Single premium pension sales in the three months to 30 September were £474m, up 28% on the £370m recorded at the same stage last year. SJP said the fall in the world stock markets was the major contributor to an 8% reduction in the level of funds under management during the period to £26.7bn. David Bellamy, CEO, said: "I am pleased to report another ve...