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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
St. James's Place Plc | LSE:STJ | London | Ordinary Share | GB0007669376 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 0.73% | 414.00 | 414.00 | 414.40 | 417.20 | 408.60 | 413.60 | 349,032 | 13:46:13 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 18.98B | -10.1M | -0.0184 | -225.76 | 2.28B |
TIDMSTJ
RNS Number : 4340L
St. James's Place PLC
28 April 2015
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ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111 Facsimile 020 7493 2382
PRESS RELEASE
28 April 2015
ST. JAMES'S PLACE WEALTH MANAGEMENT
STRONG FIRST QUARTER TAKES
FUNDS UNDER MANAGEMENT TO GBP55.8 BILLION
St. James's Place plc ("SJP"), the wealth management group, today issues its interim management statement for the three months ended 31 March 2015.
Highlights:
-- New business on an APE basis of GBP232.2 million (2014: GBP205.4 million) - up 13%
-- Total new single investments of GBP2.0 billion (2014: GBP1.8 billion ) - up 11%
-- Continued strong retention of clientfunds - 96%
-- Net inflow of funds under management of GBP1.30 billion (2014: GBP1.19 billion) - up 9%
-- Funds under management of GBP55.8 billion (2014: GBP45.8 billion) - up 22% over 12 months and 7% since the beginning of the year
David Bellamy, Chief Executive, commented:
"I am pleased to report a strong first quarter with new investments of GBP2 billion and continuing high retention of our clients' existing funds, taking our funds under management to GBP55.8 billion, up 7% since the beginning of the year.
During the period we received feedback from 47,000 clients who responded to our annual Wealth Account Client Survey. The majority told us that that their highest priority is ensuring they have enough to live on in retirement. They also want to be able to enjoy retirement without worrying about financial matters and have sufficient funds to pay for their long term care, should they need it in the future. This survey reinforces our experience that people keep their money invested as long as possible, contributing to our strong retention of funds under management. It further suggests that individuals understand the need to save and are unlikely to disturb their retirement plans following the introduction of the new rules.
People face an increasingly complex range of decisions when considering how to manage their wealth. Irrespective of any changes that may result from the impending General Election, our Partners will continue to play an important role in helping them to fully understand their options, now and in the future, to achieve their financial objectives.
Consequently, there has rarely been a greater need for advice which is why I remain confident that if we continue to focus 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, we will continue to grow our business in line with our objectives, in 2015 and beyond."
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The details of the announcement are attached.
Enquiries:
David Bellamy, Chief Executive Tel: 020 7514 1963 Officer Andrew Croft, Chief Financial Tel: 020 7514 1963 Officer Tony Dunk, Investor Relations Tel: 020 7514 1963 Director Bell Pottinger Tel: 020 3772 2566 John Sunnocks Ben Woodford Email: Bwoodford@BellPottinger.com
Contents
1. Commentary and outlook 2. Funds under management 3. SJP new business 4. Third party new business
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1. Commentary and Outlook
The first quarter of 2015 has seen growth in a number of global stock markets, which would suggest increasing investor confidence in the world's developed economies.
This has contributed to strong levels of new business, with an 11% increase in new single investments to GBP2.0 billion and a particularly strong growth in unit trust, ISA and pensions business as our clients took encouragement by way of the higher ISA savings limits and the introduction of increased flexibility for retirement savings.
This level of new business, together with the continued excellent retention of existing client funds, resulted in a net inflow of funds under management of GBP1.3 billion up 9%.
Today, St. James's Place Wealth Management has published findings from its annual Wealth Account Client Survey for the first time. With over 47,000 respondents it represents the largest sample of consumer opinion in UK financial services and reveals how our clients view their financial future and their concerns.
When asked to specifically consider their three top priorities for their future wealth, 75% of respondents say ensuring they have enough to live on in retirement is their highest priority, and 68% suggest being able to enjoy their retirement without having to worry over financial matters, is a key focus. Nearly half (47%) of those surveyed place importance on having sufficient funds to pay for their long term care should they need it in the future.
Just over a third (38%) believe leaving an inheritance is among their top three priorities while a similar proportion (37%) talk more generally of wanting to help their children and/or grandchildren.
When asked which issues concern them over the next three to five years, 69% are worried about the state of the UK economy, with 54% nervous of the outcome of the impending General Election. Furthermore, 43% are concerned about the potential impact of the UK leaving the European Union. Only one in three (29%) worry about a potential rise in interest rates and the cost of living (35%).
As announced earlier in the year, The St. James's Place Money Management Account, in association with Metro Bank, was launched last week. Early indications are that our clients have positively received this additional service.
EEV net asset value per share
The net asset value on the European Embedded Value basis at 31 March 2015 was approximately 700 pence per share (685 pence after the payment of the full year dividend).
Capital
There have been no material changes to group solvency capital during the period.
Outlook
There has rarely been a greater need for advice which is why we remain confident that if we continue to focus 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, we will continue to grow our business in line with our objectives, in 2015 and beyond.
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2. Funds under Management
During the first quarter of 2015 we have once again seen a net inflow of funds under management which, at GBP1,304 million, was some 9% higher than the GBP1,191 million for the first quarter of 2014.
Given this strong net inflow and positive returns in the world stock markets (with the FTSE100 index for example up 3%), total funds under management increased to GBP55.8 billion.
Unaudited Unaudited 3 Months to 3 Months to 31 March 2015 31 March 2014 GBP'bn GBP'bn Opening funds under management 52.0 44.3 New money invested* 2.1 1.9 Net investment return 2.5 0.3 --------------- --------------- 56.6 46.5 Regular income withdrawals and maturities (0.2) (0.2) Surrenders and part surrenders (0.6) (0.5) --------------- --------------- Closing funds under management 55.8 45.8 --------------- --------------- Net inflows 1.3 1.2 =============== =============== Implied surrender rate as a percentage of average funds under management 4.1% 4.3% =============== ===============
* Includes gross new single investments together with the current year contributions in respect of regular investments plans
Analysis of Funds under Management
The following table provides an analysis of the funds under management at 31 March 2015 split by geography and asset type:
31 March 2015 31 March 2014 GBP'bn % of GBP'bn % of total total UK Equities 16.0 29% 13.7 30% North American Equities 11.3 20% 8.9 19% Fixed Interest 7.5 13% 6.3 14% European Equities 6.5 12% 5.4 12% Asia & Pacific Equities 5.1 9% 3.9 9% Cash 4.6 8% 3.4 7% Other 2.0 4% 1.6 3% Property 1.8 3% 1.3 3% Alternative Investments 1.0 2% 1.3 3% Total 55.8 100% 45.8 100% ======= ======= ======= =======
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3. SJP New Business Unaudited 3 Months to 31 March 2015 2014 GBP'm GBP'm New single investments Investment 530.1 623.9 Pension 663.0 515.1 Unit trust and ISA 823.0 671.4 -------- -------- 2,016.1 1,810.4 +11% -------- -------- New annualised regular investments Investment 5.5 3.2 Pension 24.6 20.7 Protection 0.5 0.5 -------- -------- 30.6 24.4 +25% -------- -------- Total new business (APE)* Investment 140.8 132.7 Pension 90.9 72.2 Protection 0.5 0.5 -------- -------- 232.2 205.4 +13% -------- --------
*Calculated as 1/10(th) single investments plus the annualised regular investments
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4. Third Party New Business
In addition to SJP new business, the Partnership also advises on the products and services of a number of selected third party providers.
-- Investment into various schemes (eg VCT and EIS etc)
-- Pensions: Group Personal Pension Schemes, Annuities and SIPPs
-- Protection and general insurance
During the three month period the total third party single new business was GBP177.4 million (2014: GBP166.5 million) and total annualised new regular business was GBP10.4 million (2014: GBP9.5 million).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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