St. James's Place new chief executive Andrew Croft has said he is confident the wealth management network will achieve 15%-20% annual growth in gross inflows over the medium-term, as it reports record inflows for 2017.
Croft recently took over from David Bellamy who had been chief executive for 11 years until the end of 2017. As previously announced in the fourth quarter, during 2017 the firm achieved record gross inflows which at £14.6bn were up 29%, while net inflows were up 40% to £9.5bn. These net flows combined with strong investment returns, increased the funds under management by 20% over the year to close at an all-time high of £90.7bn. "I am very pleased to confirm that this record new business performance is reflected in the strong financial performance, across all measures, that we are...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
