St James’s Place is approaching £100bn in assets under management as its pension business saw another strong quarter of inflows.
Results for the final quarter of 2017 show the restricted manager now has AUM of just over £90bn , up 20 per cent in twelve months.
Pension funds increased from £28bn to £36bn, an increase of 28 per cent. The firm now has 3,661 qualified advisers on its books.
Chief executive Andrew Croft, who recently took over from David Bellamy, who had headed up the business for more than a decade, says: “At the heart of this sustained growth is the importance we place on maintaining long lasting relationships with, and between, our partners and clients and serving them well.
“We continue to see a growing demand for advice…our continuing focus on achieving the best possible outcomes for our clients, through the provision of trusted financial advice and our distinctive investment management approach, gives us confidence that we will continue to grow our business, in line with our objectives, in 2018 and beyond”
The financial statements show that SJP has slightly reduced its UK equity exposure, from 23 per cent to 21 per cent, and upped the proportion of funds held in fixed interest assets from 17 per cent to 19 per cent.
Property and alternative assets account for around three per cent of SJP funds under management respectively.