StockMarketWire.com - Wealth management group St. James's Place said its funds under management grew by 15% in the first quarter on-year.

Funds under management for the three months through March rose to £103.5bn, up from £89.9bn on-year.

Net inflows were £2.2bn, down from £2.6bn on-year.

'This performance demonstrates the resilience of our business through the current political and macro-economic uncertainty,' chief executive Andrew Croft said.

'Whilst uncertainty will inevitably impact investor sentiment from time to time, it does not change the long-term needs of individuals.'

'There remains both a growing market for trusted face-to-face advice in the UK and an advice gap that represents a major opportunity for us.'

'Given the scale and quality of the St. James's Place partnership we are confident of both the resilience of the business in more difficult times and our ability to continue to grow the business over the medium to long term.'




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