(Sharecast News) - Asset manager St James's Place on Thursday said interim profits fell amid market volatility, but still managed £3.4bn in net inflows.
Profit before tax fell to £215m from £265.2m a year earlier, while funds under management hit a record £157.5bn, up from £148.4bn in December 2022.
"This has been a challenging period for many UK savers and investors who have had to contend with high and persistent inflation, rising borrowing costs, a mini banking crisis in the US and attendant stock market volatility, and continued macro-economic and geo-political uncertainty," said chief executive Andrew Croft said.
"As we look ahead, there continue to be challenges for UK consumers," he said.
Reporting by Frank Prenesti for Sharecast.com
St James's Place (STJ)