LONDON (Reuters) - Asset manager St James 's Place (L:SJP) reported a modest 1% rise in year-on-year net inflows of 810 million pounds in April as clients stood firm in the face of the impact of the coronavirus on their investments.
In a trading update on Wednesday, St James's said this positive net inflow combined with a positive investment return over the period saw funds under management end the month at 108.8 billion pounds, compared with 107.2 billion pounds last year.
Gross inflows in April were however 13% lower than the same month last year.
"Following record first quarter new business, we have naturally seen a reduction in new investments as the COVID-19 crisis developed," Andrew Croft, Chief Executive, said.
"In light of the need to observe social distancing, the Partnership has quickly adapted to managing client relationships 'virtually' and April gross inflows were robust," Croft said.