St James’s Place sees 29% jump in funds under management

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The amount of money managed by St James’s Place increased by 29 per cent over the opening six months of the year, the group’s interim statement shows.

Total funds under management at the wealth manager reached £39.9bn during the six months ending 30 June 2013, up from the £30.9bn reported one year earlier.

The firm benefitted from net inflows into its funds of close to £2bn over the six-month period, which is a 32 per cent advance from the £1.5bn seen the year before.

Profit for SJP’s unit trust business amounted to £25.3m over the period, up 93.1 per cent from the £13.1m seen halfway through 2012.

SJP chief executive David Bellamy says: “Our clients now have access to over 30 leading investment managers, chosen from across the world, to manage their funds. The most recent appointments, Magellan Financial Group based in Sydney and Edgepoint Investment Group based in Toronto, are perfect examples.

“We are confident that the strength and breadth of our fund offering provides an excellent platform upon which to continue to grow our funds under management in the coming years.”