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St James's Place warns of uncertainty

The wealth manager has warned of continued uncertainty, which could hurt inflows during the first quarter
St James's Place warns of uncertainty

A lack of momentum in St James’s Place's (STJ) shares is not so much a reflection of the past year’s performance, but rather what lies ahead. After all, these full year numbers – which revealed net inflows of £10.3bn and funds under management of £95.6bn (2017: £90.7bn) – were largely what the market expected to see. However, chief executive Andrew Croft’s warning that "challenging external factors" had moderated the pace of fund flows at the start of 2019 kept the share price down on results day. The group now faces tough comparative figures from the year before, while much hinges on the month of March, which "typically accounts for around 50 per cent of the first quarter’s flows".

IC TIP: Hold at 947p

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