By comparison, last year’s Q1 net inflow figure was £1.36bn, with chief executive David Bellamy – who announced his resignation alongside the group’s annual results in February – confident the group is better placed “than ever before” for the future.
More than half the net inflows in Q1 were contributed by its pensions business, which took in £1.02bn, with £800m going into unit trusts, Isas and the discretionary fund management (DFM) division.
The remaining £170m of inflows went into its wider investment business.
SJP’s discretionary fund manager Rowan Dartington saw gross inflows of £90m and outflows of £20m.
The three months to 31 March 2017 saw gross asset inflows of £3.23bn (€3.8bn, $4.1bn), compared with the same period last year, when SJP took in £2.45bn.
Q1 momentum
Bellamy attributed the “strong quarter of growth” to the record flows in 2016, Q1 inflows and the “continued high retention of clients and their investments.”
He added: “At the beginning of the year I said we were better placed for the opportunities that lie ahead than ever before and these gross and net inflow figures reinforce that confidence.
“Looking ahead, whilst political and macro uncertainties persist, the more immediate concern for many people relates to personal financial matters, particularly in relation to long term savings, protecting and preserving wealth, tax and intergenerational planning.
“In this regard, the scale and quality of our relationship-based and advice-led approach to the management of our clients’ financial affairs, together with our investment management proposition, means we are increasingly well placed to meet this growing need for trusted advice.”
