First quarter interim management statement

Continued significant growth in new business with funds under management up £4.2 billion to a record £39 billion

St. James’s Place plc (SJP), the wealth management group, today issued its interim management statement for three months to 31 March 2013.

Highlights:

New Business

• Total new investments of £1.6 billion (2012: £1.3 billion) - up 28%
• Total new business on an Annual Premium Equivalent (APE) basis of £199.2 million (2012: £152.6 million) - up 31%

Growth in Funds Under Management

• Net inflow of funds under management of £947 million (2012: £698 million) and continued 95% retention of existing client funds
• Funds under management of £39 billion, representing an increase of £4.2 billion in the three month period, up 12% year to date and 26% over the last 12 months

David Bellamy, Chief Executive, commented:

“I am very pleased to be reporting another quarter of strong growth in new investments, which combined with positive equity markets, and specifically the performance of our client funds, has seen our funds under management increase by £4.2 billion to £39 billion.

“Net inflows for the first three months of the year are up 36% reflecting the consistency of our year on year retention record and the strong new business growth.

“These excellent results were driven by a number of factors including improved investor sentiment, the sustained low interest rate environment, the breadth and quality of our investment proposition, high levels of client satisfaction and the growth in adviser numbers.

“Whilst we face more challenging comparatives later in the year, the above factors together with the continued strong growth in the Partnership and the good momentum we have across all aspects of our business gives us confidence in our ability to deliver future growth.”

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