StockMarketWire.com - Wealth manager St James's Place saw gross inflows rise to £9.2 billion from £7.3 billion year-on-year in the six months to 30 June 2021.

This helped funds under management reach a record level of £143.8 billion with the company announcing a first half dividend of 11.55p, 30% of its prior full year dividend.

Operating profit doubled from £418.7 million to £844.8 million year-on-year while underlying cash came in at £189.3 million up from £114.4 million.

Andrew Croft, chief executive, said: 'Retention has remained strong through the period, resulting in net inflows of £5.5 billion in the first half, equivalent to 8.6% of opening funds under management on an annualised basis.

'These net inflows, together with the positive impact from investment markets, has resulted in funds under management closing the half at a record.'


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