St James's Place reports higher 2025 inflows despite tough final quarter (updated)
29/01/2026 07:53
Recasts paragraph 1, adds net inflows in paragraph 2 and background in paragraph 3 Jan 29 (Reuters) - British wealth manager St James's Place SJP.L posted higher 2025 inflows despite a tough final quarter that saw funds move out as clients rushed to withdraw tax-free pension cash, and said early 2026 has seen a normalisation in outflow rates and client engagement. The company on Thursday reported net inflows of 6.16 billion pounds ($8.52 billion) for the year, compared with 4.33 billion pounds in 2024. UK wealth managers have constantly positioned the domestic market as a strong investment destination, despite heightened global volatility spurred by unpredictable U.S. trade policies. "The final quarter also saw elevated short-term outflows, as many clients accelerated tax-free cash (TFC) withdrawals from their pensions in anticipation of reduced TFC allowances," the company said. Outflow rates and client engagement normalised as the company exited the final quarter, and that has continued into the early part of 2026, St James's Place said. ($1 = 0.7230 pounds) (Reporting by Sri Hari N S and Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu) ((srihari.ns@thomsonreuters.com))