First quarter new business inflows and funds under management update

Record flows and positive investment returns take funds under management to £135 billion

St. James’s Place plc (“SJP”), the wealth management group, today issues an update on new business inflows and funds under management for the three months ended 31 March 2021.

Andrew Croft, Chief Executive, commented:

“I’m pleased to announce a record quarter for St. James’s Place. The moderate growth in new business that we saw in the early weeks of 2021 gathered pace through the quarter as confidence improved and clients sought to commit accumulated savings to longer-term investments. This, together with strong activity linked to tax year-end planning, resulted in an exceptional new business performance in March bringing gross inflows for the quarter to £4.79 billion, 19% higher than the corresponding period last year. With retention of our client investments remaining strong, net inflows for the period were up 22% at £2.90 billion, representing 9% of opening funds under management on an annualised basis. The combination of strong flows, together with positive investment market returns, took total funds under management to £135.46 billion, up circa 5% since the beginning of the year.

These results demonstrate once again the unerring commitment of the Partnership and our entire community to ensuring clients receive the highest quality advice and service. Although COVID-19 restrictions and economic uncertainty continue, the demand for trusted advice is stronger than ever and I am confident that, given the quality of the Partnership and the strength of our client proposition, we are well placed to deliver another good year for St. James’s Place.”

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