St. James's Place PLC (LON:STJ) has reported slightly weaker net fund flows for the final quarter of 2020 but with a new record level of £129.34bn of funds under management (FUM).
Gross inflows were £4.02bn in the quarter, compared to £3.98bn a year earlier, while net inflows were down slightly on last year at £2.29bn compared to £2.44bn.
For the year, gross inflows of £14.33bn were 5% lower than 2019, having been down 2% at the half-year stage.
Annual net inflows of £8.25bn represent 7% of the level of FUM at the start of the year, leading to total FUM growth of 11% over the year.
With current coronavirus lockdown restrictions remaining in place, the operating environment will continue to be challenging, said chief executive Andrew Croft in the update statement.
The FTSE 100 wealth manager had 4,338 qualified advisers at the end of December 2020, up from 4,271 a year earlier.