St James's Place assets drop 7.6% in H1 despite net inflows of £5.5bn

St James's Place saw its funds under management drop 7.6% over H1 despite recording £5.5bn of net inflows, as the reversal in global investment markets dragged down investment performance. According to its half year results, the firm saw its FUM reduced by £11.7bn in six months, closing at £142.3bn, down from £154bn in December 2021. Over the period, the wealth manager saw net investment returns fall by £17.3bn, with UK equities suffering the most as it lost £5.5bn, while fixed income dropped £4.4bn. Alternatives was the only asset class that remained unchanged at £11.6bn of total FUM...