St. James's Place sees inflows rise 10pc

The wealth management firm, St James's Place, says its total funds under management increased 6 percent during 2011 to 28.5bn pounds.

Net inflows were £3.3bn, a rise of 10% over 2010, while its net asset value per share grew 9% to 385p.

The company's Chief Executive, David Bellamy, said: "New business so far in this quarter (Q1 2012) is running at the same level as the final quarter of 2011 whilst funds under management have grown to £28.5 billion at the end of January."

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The firm targets 15% growth in new business and says its "confident" that can be achieved.

The final dividend has been increased to 4.8p, a rise of 21% on 2010, giving a full year figure of 8p, up 33% on the prior year.

Shares in St James's Place had gained 1.18% by 09:03. Over the last year the stock is ahead by 21%.

BS