St James's Place Reports Lower Q3 Net Inflows
British wealth manager St James's Place reported lower third-quarter net inflows as investors remained cautious ahead of the UK budget and volatile markets. Funds under management reached £242.4 billion, while shares fell following the cautious market outlook.
Insights:
St. James's Place posted third-quarter net inflows of £570M ($760.04M) on Thursday morning, down from £1.76B a year earlier. The drop reflects cautious investor sentiment ahead of the United Kingdom budget and broader market volatility. Shares fell 5.7% following the release.
