St. James’s Place third quarter interim management statement

Strong Momentum Continues With 23% Increase in Net Inflows Taking Funds Under Management to £49.1 Billion

St. James’s Place plc (“SJP”), the wealth management group, today issues its new business statement for the three months ended 30 September 2014.

Highlights:

• Total new single investments of £1.8 billion in the quarter (2013: £1.5 billion) up 19% and 21% over the nine months to £5.8 billion (2013: £4.8 billion)
• Net inflow of funds under management of £1.27 billion (2013: £1.03 billion) – up 23% in quarter and 23% over nine months at £3.71 billion (2013: £3.02 billion)
• SJP new business on an APE basis of £212.6 million in the quarter (2013: £179.9 million) up 18% and 19% over the nine months to £660.5 million (2013: £553.8 million)
• Continued strong retention of clients’ funds under management – 95%
• Funds under management of £49.1 billion (2013: £41.8 billion) – up 17% over 12 months and 11% since the beginning of the year.

David Bellamy, Chief Executive, commented:

“I am very pleased to report that the strong momentum in our business continued into the third quarter, with growth in new business buoyed by a 50% increase in new ISA investments, as clients took the opportunity to capitalise on the higher limits introduced on 1 July. This growth, coupled with the consistently high retention of our existing client funds, saw net inflows increase by 23% to £1.3 billion in the quarter, bringing our total funds under management to a record £49.1 billion. After nine months the growth in new investments, to £5.8 billion, is 21% higher than the same period last year.

These results once again demonstrate the resilience of the business as a result of the outstanding job that our Partners do in managing our clients’ financial affairs, both when the markets are positive and when they are less so.

With the increasing freedoms and responsibility individuals have for their own affairs, both leading up to and through retirement, the need for reliable and expert advice has never been more obvious. Consequently, I am confident that we remain well positioned for continued growth in line with our medium term objectives.”

Enquiries:

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