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Wealth manager St James's Place had a good inflow in the first three months of the year, as investors dissipated macroeconomic uncertainty to commit funds to their funds.
FTSE 100 raised 2.18 billion pounds of net new money in the first quarter, while gross inflows stood at 3.61 billion pounds. Good sales helped raise funds under management at St James's Place to £ 103.5 billion, up 8.3% from the end of 2018.
St James's Place Chief Executive Officer Andrew Croft said this performance demonstrates the "resilience" of the wealth manager's operations to current political and macroeconomic uncertainty.
He said: "Uncertainty will inevitably affect investor sentiment from time to time, but it does not change the long-term needs of individuals. It remains both a growing market for trusted face-to-face consulting in the UK and a consulting gap that represents a major opportunity for us. "
Mr Croft added that he was confident in the company's ability to continue to generate growth in the medium and long term.
St James's Place forms its own network of advisors, known as the Partnership, which channel badets to society.
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