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St James’s Place looks to double assets over the next five years

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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