St. James Place reveals strong business flows in Q4
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St James Place has revealed a 50 per cent increase in total single investments for the final three months of 2009.
The firm saw total single investment of £1.08bn for the three months to December 31, 2009, compared to £0.72bn for the same period in 2008.
Total new business grew 38 per cent to £133.2m on an APE basis, up from £96.4m a year ago. Manufactured new business also rose 43 per cent for the final quarter, standing at £122.7m from £85.6m in 2008.
Funds under management rose £1.1bn in the final quarter and now stand at £21.4bn. Net inflows of funds under management was £700m, up from £400m in 2008. Unit trust sales stood at £282.7m in the final quarter, up 112 per cent from £133.6m in 2008.
The group also saw a 9 per cent increase in partnership numbers to 1,464 for the year.
St James Place chief executive David Bellamy says: “We are delighted with our fourth quarter figures. Record new investments and excellent retention are a credit to our entire community and have helped drive group funds under management to record levels.
“We are extremely pleased with the fact that we have grown the Partnership by 9 per cent, the largest annual increase in ten years.
“Our overall performance in 2009 gives us both the confidence and a good platform for further growth this year.”
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