St. James’s Place plc (‘SJP’) today issues an update on new business inflows and funds under management for the three months ended 31 March 2023.
| Q1 2023 | Q1 2022 | |
| £'Billion | £'Billion | |
| Gross inflows | 4.17 | 4.73 |
| Net inflows | 2.00 | 2.91 |
| Closing funds under management | 153.62 | 151.25 |
| Funds under management retention rate (full year)1 | 95.9% | 96.6% |
| Net inflows/opening funds under management (full year) | 5.4% | 7.6% |
1 Excluding regular income withdrawals and maturities
Andrew Croft, Chief Executive Officer, commented:
“I am pleased to announce another good quarter for St. James’s Place, with our advisers attracting £4.17 billion of new client investments to the business. While lower versus a very strong first quarter outturn in 2022, these gross inflows represent growth against the final quarter of last year. Retention has remained strong, supporting a further £2.00 billion of net inflows and contributing to funds under management closing the period at £153.62 billion. This outcome for both gross and net flows is testament to the scale of ongoing demand for trusted face-to-face advice, the long-term nature of our client proposition and the strength of adviser-client relationships in all environments.
We have begun 2023 much as we expected, so if macroeconomic indicators and consumer sentiment show further signs of recovery, we continue to anticipate a more supportive environment for new business as 2023 unfolds.”
Enquiries:
| Hugh Taylor, Director – Investor Relations | Tel: 07818 075143 |
| Jamie Dunkley, External Communications Director | Tel: 07779 999651 |
| Brunswick Group: | Tel: 020 7404 5959 |
| Charles Pretzlik | Email: [email protected] |
| Eilis Murphy | Email: [email protected] |
View the full press release.
