St James's Place PLC (LSE:STJ) shares sprang 7% higher on Thursday after the wealth manager revealed stronger client investment flows and a record level of assets under management last year.
Net inflows of £4.33 billion were received in 2024, the FTSE 100 group said on Thursday, after the fourth quarter brought in £1.5 billion from investors.
Though this was lower than the previous year, assets under management hit a new high of £190.21 billion, driven by the pension division, as inflows were recorded across the board.
“Our investment management approach has continued to work well for our clients, with our portfolios delivering strong returns that compare favourably against peer groups,” chief executive Mark FitzPatrick said.
“This, together with another year of net inflows, drove our funds under management.”
He said "the final stages" were underway of its new charging structure, following the overcharging complaints that led to a £426 million provision being taken last year, and added that work to review historic client servicing records and implement cost and efficiency programme "continues to progress as planned".
Shares jumped 7.2% to 996p.