First quarter new business inflows and funds under management update

Another record quarter with gross inflows up 32% and net inflows up 46%.

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 2017.

Highlights:

• Gross inflow of funds under management of £3.23 billion (2016: £2.45 billion)
• Continued strong retention of client funds – 95%
• Net inflow of funds under management of £1.99 billion (2016: £1.36 billion)
• Group funds under management of £79.84 billion (2016: £62.02 billion)

David Bellamy, Chief Executive, commented:

“I am pleased to report another strong quarter of growth. Building on record flows in 2016, total gross inflows for the quarter were 32% higher which, supported by the continued high retention of clients and their investments, resulted in net inflows of £1.99 billion for the quarter, taking Group funds under management to a little under £80 billion.

At the beginning of the year I said we were better placed for the opportunities that lie ahead than ever before and these gross and net inflow figures reinforce that confidence.

Looking ahead, whilst political and macro uncertainties persist, the more immediate concern for many people relates to personal financial matters, particularly in relation to long term savings, protecting and preserving wealth, tax and intergenerational planning. In this regard, the scale and quality of our relationship-based and advice-led approach to the management of our clients’ financial affairs, together with our investment management proposition, means we are increasingly well placed to meet this growing need for trusted advice.”

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View the full press release (PDF).