St James's Place's managed funds rise on steady client appetite

Reuters
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(Reuters) - British wealth manager St James's Place said on Thursday its third-quarter funds under management rose to 184.40 billion pounds ($239.42 billion), as client risk appetite continued its positive momentum from the previous quarter.

"We have seen continued momentum in activity with clients engaging with their advisers to ensure they continue to take the right course of action for their finances," CEO Mark FitzPatrick said in a statement.

SJP's FUM increased to 184.40 billion pounds by September-end, from 181.86 billion pounds at the end of June.

Its peer Rathbones reported a marginal sequential decline in its funds under management and administration at September-end.

While AJ Bell, a fund manager with significant exposure to pension funds, reported a 3% sequential jump in its assets under administration at September-end, driven by an increase in customer numbers at its platform business.

($1 = 0.7702 pounds)

(Reporting by Shanima A and Yamini Kalia in Bengaluru; Editing by Janane Venkatraman and Rashmi Aich)