St. James's Place Q1 Gross Inflows Of Funds Decline - Quick Facts

(RTTNews) - St. James's Place plc (STJ.L), a wealth management group, issued an update on new business inflows and funds under management for the first quarter ended March 31, 2019.

For the quarter, the company reported gross inflows of funds under management of 3.61 billion pounds, down from 3.91 billion pounds in the prior-year quarter.

Net inflows of funds under management were 2.18 billion pounds, down from 2.60 billion pounds in the prior-year period.

However, Group funds under management increased 8.3 percent to 103.52 billion pounds from 89.91 billion pounds a year ago. The increase reflects the net inflows, combined with positive investment returns.

Looking ahead, Andrew Croft, Chief Executive of St. James's Place, said, "Given the scale and quality of the St. James's Place Partnership we are confident of both the resilience of the business in more difficult times and our ability to continue to grow the business over the medium to long term."