St James’s Place has reported a notable increase in its Funds Under Management (FUM) stock to £184.4bn by the end of the third quarter of 2024, marking an upward trend from previous quarters.
- The current FUM reflects growth compared to both Q2 2024 and the same period in 2023, despite facing challenges with inflow figures.
- Although net inflows showed a decline, SJP managed to maintain a steady retention rate in FUM from the previous quarter.
- Retention rates, while steady compared to Q2 2024, declined slightly from figures reported in Q3 2023.
- The company’s performance remains strong, indicative of strategic resilience in a fluctuating financial landscape.
St James’s Place (SJP) has emerged with an increased Funds Under Management (FUM), reaching a figure of £184.4bn by the third quarter’s close in 2024. This growth signifies a positive shift from the previous figures reported at £181.8bn in Q2 2024 and £158.5bn in Q3 2023, showing consistent growth over the year.
Despite challenges, including lower net inflows, the company has upheld a strong market presence. Net inflows were recorded at approximately £890m, a decrease from £1.2bn at the end of June 2024 and slightly less than £910m in Q3 2023.
Furthermore, the retention rate of 94.6% shows stability when compared to the previous quarter, though it is a minor decline from the 95.3% retention rate recorded in the third quarter of 2023. This suggests ongoing client trust and satisfaction with the firm’s services.
The wealth manager’s strategic operations in a complex financial environment have evidently supported its capacity to sustain its growth trajectory. Their ability to maintain figures amidst these challenges reflects well on both their strategic outlook and client confidence in their investment services.
Overall, St James’s Place has showcased resilience and strategic adaptability amidst challenging financial conditions, illustrating robust growth in its Funds Under Management.
