Net inflows of funds under management (FUM) soared to £2.36bn ($3.1bn, €2.65bn) in 3Q17 from £1.66bn, year-on-year, for the group as a whole, with the investment division attracting £610m in gross inflows.
Its unit trust and Isa business, meanwhile, delivered £1.16bn in gross inflows, up from £990m in the third quarter of last year.
SJP’s total FUM at the end of September stood at £85.7bn, up over 20% from last year’s total of £71.4bn.
Little detail was given about SJP’s Asian businesses. However, a footnote relating to the nine months ending 30 September 2017 read: “In addition, there is a further £500m of funds under management in third party funds within our Asia business.”
This compares with £443m during the same period in 2016, an increase of £57m.
Although the wealth manager has come under fire for its charges and advice model and has racked up more than 1,000 customer complaints within the last year, the firm retained 95% of its client funds over the period.
From Japan to the UK
From November, the wealth manager and financial adviser will be offering two new funds to UK retail clients – the previously announced global growth vehicle and a Japan mandate run by Yoshihiko Ito of Tokyo-based Nippon Value Investors.
The addition of Nippon’s Ito takes the number of managers available exclusively to SJP UK retail clients to 29.
The global growth fund will combine the investment strategies of Magellan, EdgePoint, Sands Capital and Select Equity Group, who were previously slated to run the mandate.
It added that its recently announced strategic growth income portfolio will be added to its range of growth and income portfolios.
The changes to its Japan, growth and strategic growth portfolio will come into effect on 6 November 2017.
Confidence
David Bellamy, SJP chief executive, said: “Looking ahead, while political and macro uncertainties persist, we are confident in the scale and quality of our relationship-based approach to the management of our clients’ financial affairs.
“This, together with the breadth of our investment management proposition, means we are well placed to meet the growing need for trusted advice and our medium-term growth objectives.”
