The last quarter of 2020 continued to be challenging as the coronavirus crisis showed no signs of abating, while the threat of a no-deal Brexit rocked the UK market, but many of the firms in the industry proved resilient despite this backdrop.
St James's Place St James's Place Wealth Management has reported £2.3bn of net inflows during the last quarter of an 'extraordinary' 2020, which helped its funds under management soar to a fresh record high. At the end of December, FUM stood at £129.3bn, an 11% increase over the 12-month period and a fresh record for the business. Total net inflows during the year amounted to £8.3bn, representing 7.1% of opening FUM, though this was lower than the previous year, when net inflows amounted to 9.4% of FUM. Commenting on the impact of the pandemic on the business, CEO Andrew Croft sa...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
