Net inflows to St James's Place more than halve as business review outcomes loom

FUM grows to £179bn

Net inflows to St James’s Place more than halved in the first quarter of the year, as investors pulled a combined £360m from the wealth manager’s investments, ISA and DFM products.

According to a trading statement published today (30 April), the firm saw in £710m net inflows last quarter, lower than the £2bn reported in the same quarter last year.  Gross inflows of £3.97bn were slightly lower year-on-year (£4.17bn in Q1 2023), which CEO Mark Fitzpatrick attributed to a fewer number of working days in March ahead of the key tax year end period. "For the year to 5 April, gross inflows are broadly unchanged on the equivalent period in 2023, reflecting an increased level of client activity, albeit with a lower average investment size," he said.  St James's Place ...