(Reuters) -British wealth manager St James's Place said on Thursday its net inflows doubled to 3.8 billion pounds ($5.04 billion) in the first half of the year, helped by rising demand for financial
St James's Place Reports $5 Billion in Half-Year Net Inflows
(Reuters) -British wealth manager St James's Place said on Thursday its net inflows doubled to 3.8 billion pounds ($5.04 billion) in the first half of the year, helped by rising demand for financial advice and renewed foreign interest in the UK markets.
Money managers in the UK have continued to back the domestic market as a good investment opportunity amid volatility triggered by U.S. trade policies.
The company also launched an additional share buyback of 63.4 million pounds. Overall managed assets rose to 198.5 billion pounds at June-end, from 190.2 billion pounds at the end of March.
St James's Place recorded a 17% jump in underlying post-tax cash to 240.4 million pounds.
($1 = 0.7539 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia Cheema)
