StockMarketWire.com - Wealth management group St James's Place reported on Thursday declining inflows in the fourth quarter of 2018 amid "particularly difficult market conditions".

Although the fourth quarter began strongly, inflows weakened in the final two months, resulting in gross inflows of £3.95bn, slightly below 2017's record fourth quarter.

However, seen over the full year, gross inflows stood at £15.7bn, which represented growth of 8% over 2017.

Meanwhile, net inflows stood at £2.6bn in the final quarter of 2018 and £10.3bn for the 12 months to 31 December 2018, an increase of 8% over the previous 12 months and equivalent to 11% of opening funds under management. This was due to the continued strength in retention of clients and their investments, the company said.

However, total funds under management were negatively impacted by lower global investment markets, closing the period at £95.6bn, but still up 5% since the beginning of the year.

"While challenging market conditions, like those currently being experienced, will slow the pace of fund inflows from time to time, the fundamentals of our clients' financial planning requirements remain unchanged. I firmly believe that, with continued focus on achieving the best possible outcomes for our clients through the provision of trusted face-to-face financial advice and our distinctive investment management approach, we remain extremely well placed to continue to grow our business in line with our objectives over the medium term," said Andrew Croft, Chief Executive.


At 8:13am: [LON:STJ] St Jamess Place PLC share price was +12.7p at 954.1p



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