St. James's Place posts record funds under management, says demand rising

Upmarket wealth manager St. James's Place reported record funds under management of 118.7 billion pounds ($154.70 billion) on Tuesday, boosted by third quarter net inflows of 1.4 billion pounds.

LONDON, Oct 27 (Reuters) - Upmarket wealth manager St. James's Place SJP.L reported record funds under management of 118.7 billion pounds ($154.70 billion) on Tuesday, boosted by third quarter net inflows of 1.4 billion pounds.

The company also said it saw "increasing demand for sound, highly personal financial planning advice" amid a "challenging external environment".

"Looking ahead, the increased uncertainty linked to COVID-19 will inevitably influence client investment confidence and consequent decision-making," Chief Executive Andrew Croft said.

"However, drawing on the experience of the last six months, I am confident that the Partnership will continue to adapt to whatever circumstances they face," he said.

($1 = 0.7673 pounds)

(Reporting By Sinead Cruise; editing by Simon Jessop)

((sinead.cruise@thomsonreuters.com; 020 7513 5026; Reuters Messaging: sinead.cruise.thomsonreuters.com@reuters.net))

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