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SJP posts record FUM in 2024 despite fall in net flows
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The wealth manager amassed £5.5bn in new client investments over the fourth quarter taking annual gross inflows to £18.4bn for the year, an increase of 20% on 2023. Net inflows for the final quarter reached £1.5bn – almost doubling from £770m in Q4 2023 – despite jitteriness around the Autumn Budget leading to a surge in both gross inflows and outflows in October. In total, net inflows for 2024 registered at £4.3bn, a drop from the previous year's net flows of £5.1bn. The retention rate also fell slightly year on year, from 95.3% in 2023 to 94.5%. Over 25% of St James's Place fund...
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