SJP funds under management hit record £41.8bn

St. James's Place, the wealth management group, has reported funds under management of £41.8bn, up 5% over the three months ended 30 September 2013, and 20% since the start of the year.

Funds under management increased by £1.9bn in the quarter, and are up £7bn since the start of the year. Net inflow of funds under management were £1.03bn, up 37% on the same period last year. New business also saw an upswing, with total single investments of £1.7bn, up 27% during the quarter to £5.2bn for the year so far. Total new business on an APE basis was £203.9m, making a rise of 23% compared to the same period in 2012. Within these figures there was particularly strong growth in ISA and unit trust sales, the company said. St. James's Place chief executive David Bella...