Investment management firm hails robust results

Investment management firm St James’s Place has reported a “robust” half year.

The listed company said gross inflows for the six months to 30 June 2023 were at £8bn, while net inflows stood at £3.4bn.

Group funds under management increased from £148.4bn to a record £157.5bn.

Chief executive Andrew Croft said: “I am pleased to report a robust business performance in the first half of 2023, highlighting once more the fundamental resilience of our business model and the strength of relationships our advisers enjoy with their clients.

“This has been a challenging period for many UK savers and investors who have had to contend with high and persistent inflation, rising borrowing costs, a mini banking crisis in the US and attendant stock market volatility, and continued macro-economic and geo-political uncertainty.

“As we look ahead, there continue to be challenges for UK consumers, but as a long-term business our focus remains on ensuring we are well positioned to support our advisers build great relationships and deliver trusted and valued face-to-face advice over time.

“This commitment underpins our 2025 plan and will enable SJP to capitalise on the scale of long-term market opportunity ahead.”