Wealth manager pleased with progress

WEALTH manager St James’s Place, which has offices in Liverpool and Manchester, today said it was “delighted” with its recent performance as funds under management continue to grow.

In an interim management statement for the three months to September 30, St James’s Place said total single investments over the period were made of £1.1bn, up 32%.

Chief executive David Bellamy said: “We are delighted with the continued momentum in new business and investment inflows during the quarter, which is attributable to the increasing breadth of our investment offering and the strength of our distribution.

“This performance, together with the recovery in world stock markets, has given rise to strong growth in funds under
management to £24.8bn. Funds under management have now doubled over the last five years.

“Although the outlook was uncertain earlier in the year, 2010 is proving to be a very successful year for St James’s Place.

“While we are up against tougher comparatives in the short term we remain confident in our ability to deliver average new business growth within our 15% to 20% per annum range over the medium term.”