St James's Place AUM up 25% year-on-year

James Baxter-Derrington
clock • 1 min read
St James's Place AUM up 25% year-on-year

St James's Place (SJP) saw its assets under management hit £148bn in the third quarter of 2021, up from £119bn a year earlier. 

The wealth manager also reported net inflows of £2.6bn for the three months to the end of September, compared to £1.4bn for the same period in 2020.

SJP chief executive, Andrew Croft (pictured), said the rise was driven by improving consumer confidence, despite economic and investment market uncertainty.

We now anticipate the rate of gross inflow growth for the second half to be modestly ahead of our previous guidance issued in late July."

"There remains uncertainty around the near-term economic and investment market outlook, but our business is in great shape and we now anticipate the rate of gross inflow growth for the second half to be modestly ahead of our previous guidance issued in late July," he said. 

He added that the firm expects growth in gross inflows for the full year to be around 25%.

"Beyond 2021, it is natural that we will see variations in the pattern of new business growth we achieve over time, but our performance this year gives us every confidence in the 2025 ambitions we set out for St. James's Place earlier this year," he said.