Fourth quarter new business announcement

Record single investments of £7.2 billion sees funds under management grow to £44.3 billion

St. James’s Place plc ("SJP"), the wealth management group, today issues its new business update for the twelve months ended 31 December 2013.

Highlights:

• Total new single investments of £7.2 billion (2012: £5.9 billion ) – up 22%
• Continued strong retention of clients’ funds under management – 95%
• Net inflow of funds under management of £4.3 billion (2012: £3.35 billion) – up 28%
• Funds under management of £44.3 billion (2012: £34.8 billion) – up 27%
• SJP new business on an APE basis of £762.9 million (2012: £637.2 million) – up 20%
• Total new business (including third party business) on an APE basis of £865.2 million (2012: £743.3 million) – up 16%
• Partnership numbers up 9.5% to 1,958

David Bellamy, Chief Executive, commented:

"I am very pleased to report another record year of new investments which, when combined with the continued high retention of our clients and their funds and positive investment returns, saw our funds under management increase by £9.5 billion in the year to a new record high of £44.3 billion.

As I have said previously, there is a reassuring consistency about our business, most clearly demonstrated by the sustained growth in our funds under management over the last five years. Over this period of changing economic and market conditions, funds under management have grown by a compound 22% pa compared to growth in the FTSE 100 of 8.8% pa.

At the heart of this sustained growth is the importance we place on maintaining long lasting relationships with, and between, our Partners and clients and serving them well.

At a time when access to trusted advice is increasingly in short supply, we remain focused on this aspect of our business and believe our clients value our approach. They also value the importance we place on looking after their wealth through our distinct approach to investment management which offers them a breadth of investment options and bespoke portfolios.

I am confident that the growth we achieved in 2013, in both new investments and Partner numbers, bodes well for the continued momentum in our business and for our future growth in line with our medium term objectives."

Enquiries:

View the full press release (PDF) to find out more.