UK wealth manager St James's Place says it will make a one-off goodwill payment of £6.9 million to clients it recommended invest in AIG Life's frozen Enhanced fund, according to media reports.

Individual payments, which will be made in April next year, will be calculated on the current value of each client's units in the £5.7 billion fund, which St James's Place says total £69 million.

Additionally, the firm has set up a liquidity facility with Bank of Scotland Private Banking to provide capital, where shown to be necessary, for investors who have taken up AIG Life's maturity plan offer, which will keep them in an alternative fund until 2012.

"The collapse in the money markets is unprecedented and our clients are the victims of an extreme and unforeseeable set of circumstances," David Bellamy, chief executive of St James's Place, was quoted as saying.

"Nevertheless, we recognise the inconvenience and distress this will have caused and want to help. Our offer of support, which we believe is fair to all our clients, and other stakeholders, further demonstrates our determination to maintain and enhance our long term relationship with them," Mr Bellamy said.

A portion of investors in the AIG Life vehicle, which consists of the Premier Access and Premier Bonds, were seeking to cash in their units following the turmoil in the money markets.

In response, clients were offered the choice of leaving the fund in December or switching into a new vehicle AIG said should enable some capital payouts between 2009 and 2011 and would fully mature in 2012. Those clients opting to remain have been guaranteed the minimum value of their units on maturity.

The liquidity facility provided by Bank of Scotland will pay the loan fees and indemnify the loan up to a maximum liability of £4.8 million.