St James's Place reports 22% rise in managed funds

Wealth management group St James's Place has posted a 22% increase in funds under management, according to its latest interim statement.

Giving details on Tuesday, St James's Place said funds under management had risen to £55.8bn for the three months March end, up 22% from £45.8bn in 2014, and 7% since the beginning of the year.

It also reported an increase of 9% in net inflow of funds under management from £1.19bn in 2014 to £1.30bn. The wealth manager added that its client retention rate stood at 96%.