SJP 2020 inflows 8% lower than previous year but FUM hit fresh record

FUM of £129.3bn at end of year

St James's Place has reported net inflows of £8.2bn in 2020, 8% lower than in the previous year but proof of its resilience during the Covid-19 pandemic, according to the firm.

The inflows, which represent 7% of opening funds under management, helped push FUM up 11% to a record £129.3bn by the end of the year. However, the firm has had to take some measures to protect the business from the effects of the pandemic. This included a decision to withhold the 11.22p final dividend for 2019 at the outset of the crisis, which SJP said gave it the "ability and flexibility to provide clients with the quality of service they would need". The financial resilience of the business since then means SJP plans to pay the withheld dividend out to shareholders on 24 March, pl...