Oct. 27, 2020, 3:21 a.m. EDT

St. James's Place inflows fall, funds rise

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By Sabela Ojea

St. James's Place PLC said Tuesday that net inflows fell 32% in the third quarter of the year, while funds under management increased amid a challenging external environment, and noted that improved levels of activity towards the end of the quarter have continued into October.

The FTSE-100 wealth-management company said its net inflows came to 1.44 billion pounds ($1.88 billion) compared with GBP2.11 billion for the same period a year earlier.

Over the first nine months of 2020, St. James Place received net inflows of GBP5.96 billion, down from GBP6.55 billion from the previous year.

Total funds under management as at Sept. 30 increased to GBP118.70 billion, compared with GBP112.82 billion for the same date the prior year.

"Our confidence in the medium to long-term outlook for our business remains unchanged. We see an increasing demand for sound, highly personal financial planning advice and, through the comprehensive geographic reach and quality of the Partnership, we remain extremely well positioned to meet this opportunity and drive further growth," Chief Executive Andrew Croft said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

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