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St James's Place reports lower Q3 net inflows amid uncertainty ahead of UK budget

By Reuters News

Oct 29 (Reuters) - British wealth manager St. James's Place SJP.L reported a fall in third-quarter net inflows on Thursday as investors remained cautious in the lead-up to the UK budget and amid unpredictable markets.

Here are some details:

  • The group reported net inflows of £570 million ($760.04 million) for the quarter ending September 30, down from £1.76 billion a year ago

  • Investors have pulled back from riskier assets as the Iran war and a global bond selloff clouded sentiment, reducing trading activity

  • Funds under management as at September 30 were £242.4 billion, compared to £212.4 billion as of September 30 last year

  • The company added that the lower net inflows also reflected a strong comparative period last year, which benefited from high levels of activity linked to its then-new charging structure


($1 = 0.7500 pounds)

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