St James's Place blames tariff uncertainty for £1.6bn hit to funds
St James's Place's funds under management fell to £188.6 billion as of the end of March, from £190.2 billion three months earlier, as global markets slid amid mounting worries about US tariffs.
This offset strong flows of new client money into the FTSE 100 company, which looks after the nest eggs of the affluent middle classes and attracted a net £1.69 billion during the period, exceeding the £1.37 billion City analysts had expected.
Trump's return to the White House in January has heralded a fracturing of global trade, with the US imposing sweeping tariffs on most countries amid claims from the president
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