This is the total of new single investments for the first quarter of 2015, according to the Q1 interim statement from wealth manager St James’s Place.
This was an 11 per cent increase on 2014’s £1.8bn in the same period. Strong inflows of funds under management saw new funds under management rise 9 per cent from £1.19bn to £1.30bn, taking the overall total to £55.8bn. The group also reported strong client fund retention of 96 per cent.
The chief executive, David Bellamy, said it had been a strong quarter and he laid much of the reason for this at the door of the pension reforms.