St. James’s Place third quarter new business inflows and funds under management update

Record quarter for both gross and net inflows

St. James’s Place plc (“SJP”), the wealth management group, today issues its update on new business inflows and funds under management for the quarter ended 30 September 2015.

Highlights:

• Gross inflow of funds under management of £2.32 billion (2014: £1.94 billion) up 20% in the quarter and up 16% over the nine months to £6.72 billion (2014: £5.78 billion)
• Continued strong retention of client funds c.95%
• Net inflow of funds under management of £1.48 billion (2014: £1.26 billion) up 17% in the quarter and 12% over the nine months to £4.15 billion (2014: £3.70 billion)
• Funds under management of £54.5 billion (2014: £49.1 billion)

David Bellamy, Chief Executive, commented:

“Despite the volatility across global stock markets during the third quarter of 2015, our business sustained strong growth momentum. New investments were 20% higher at a record £2.32 billion which, together with the continued high retention of clients and their investments, resulted in record net inflows of £1.48 billion, up 17%, compared to the same period last year.

Following the implementation of arguably the biggest changes to retirement options in a generation, our Partners have understandably been particularly active in helping clients to fully understand the more flexible, often complex, options available in respect of their retirement funds so that they may decide which best suits their immediate and future financial objectives.

These results, alongside the very pleasing level of recruitment activity and interest in our Academy, demonstrate the very positive momentum in the business. We remain focused on achieving the best possible outcomes for our clients, through the provision of sound personal advice, a reliable ongoing service and our distinctive approach to the management of their wealth and are confident that we will continue to grow our business in line with our objectives, in 2015 and beyond.”

Enquiries:

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