SJP shares jump as FUM climbs 31%

Client retention at 95%

Shares in St. James's Place rose this morning as the wealth manager reported a 31% jump in funds under management over the past year, thanks to continued strong retention of client funds and increased inflows.

In a trading update for the three months to 30 September 2016, the firm reported FUM increased to a record £71.4bn, compared to £54.5bn a year ago. Net inflows during the quarter were £1.7bn, compared to £1.5bn for the same period last year, while gross inflows were £2.8bn, against £2.3bn in 2015. SJP extends lead as UK's largest private asset manager Meanwhile, the group also reported strong client retention of 95%. Shares responded positively to the figures, rising 2.6% in early trading to 973.5p. David Bellamy (pictured), chief executive, said: "The third quarter fell bet...