St James's Place looks to double assets over the next five years
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St James’s Place chief executive David Bellamy says the firm expects to double its funds under management over the next five years.
SJP has seen its funds under management increase by £5.6bn in 2010 to reach a high of £27bn.
He says: “Our business model has meant the run rate of asset growth has tended to be 15 to 20 per cent a year and we are confident we can continue to compound that growth in the medium term, meaning a total of £54bn is not unrealistic by 2015.”
The company has also reported a 32 per cent increase in total new business on an annual premium equivalent basis for 2010.
Total new business for 2010 stood at £581.8m, up from £440.8m in 2009. Total single investments rose by 37 per cent from £3.4bn to £4.75bn. The firm says manufactured business accounted for 91 per cent of new business.
Net inflows of funds under management rose by 30 per cent to £3bn in 2010, up from £2.3bn in 2009.
SJP says its partnership numbers increased by 6 per cent to 1,552.
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