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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6.40 | 1.56% | 417.40 | 417.20 | 417.60 | 417.80 | 408.60 | 413.60 | 572,995 | 16:08:07 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | 18.98B | -10.1M | -0.0184 | -226.85 | 2.29B |
From Apr 2019 to Apr 2024
TIDMSTJ
RNS Number : 3230N
St. James's Place PLC
25 October 2016
-1-
ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111 Facsimile 020 7493 2382
PRESS RELEASE
25 October 2016
ST. JAMES'S PLACE WEALTH MANAGEMENT
STRONG INFLOWS AND INVESTMENT PERFORMANCE DRIVE
FUNDS UNDER MANAGEMENT TO A RECORD GBP71 BILLION
St. James's Place plc ("SJP"), the wealth management group, today issues its update on new business inflows and funds under management for the three months ended 30 September 2016.
-- Gross inflows of funds under management of GBP2.80 billion (2015: GBP2.32 billion) -- Continued strong retention of client funds - 95% -- Net inflow of funds under management of GBP1.66 billion (2015: GBP1.48 billion) -- Group funds under management of GBP71.4 billion (2015: GBP54.5 billion)
David Bellamy, Chief Executive, commented:
"The third quarter fell between two political turning points in the UK: the EU referendum result announced on 24 June and Theresa May's first Brexit planning speech on 3 October. However, despite the backdrop of political uncertainty, it's been very much business as usual and we've maintained good momentum in the business since the half year, with new investments in the most recent three months 21% higher at GBP2.8 billion. Together with the continued high retention of clients and their investments, this resulted in net inflows in the period of GBP1.66 billion. At GBP71.4 billion, Group funds under management are GBP12.8 billion higher than at the beginning of the year.
The globally diverse range of funds and portfolios we offer, continues to serve our clients well. However, recognising the growing client demand for income, we were pleased to announce the launch of a new Worldwide Income fund earlier this month, managed by the investment team at Investec Asset Management, based in Cape Town and led by Clyde Rossouw.
These results and continued resilience of our business give us further confidence that, through the outstanding job our Partners do in managing their clients' financial affairs and our distinctive approach to the management of their wealth, we can continue to grow our business in line with our objectives in the final quarter of 2016 and beyond."
-2-
The details of the announcement are attached.
Enquiries:
Hot Features
Premium
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
On Monday 31 October, St. James's Place will host a Capital Markets Briefing for analysts and investors at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT. The meeting will commence at 3pm and finish at 5pm.
The event will provide attendees the opportunity to hear senior members of our executive management team talk about the Partnership, the value of advice and our culture.
A full recording of the meeting will be published shortly after the event.
Contents
1. Funds under management 2. Analysis of funds under management 3. Gross inflow figures 4. EEV net asset value per share
-3-
1. Funds under Management
During the third quarter of 2016 gross inflows to our funds under management were up 21% at GBP2.80 billion (2015: GBP2.32 billion) and we continue to experience high retention of existing clients and their investments, such that we are able to report net inflows of GBP1.66 billion (2015: GBP1.48 billion) in the quarter.
Nine Months Ended 30 September 2016 Investment Pension UT/ISA Total
& DFM
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 22.52 20.86 15.23 58.61
Rowan Dartington acquisition - - 1.26 1.26
Gross inflows 1.61 3.64 2.82 8.07
Net investment return 1.97 3.14 1.67 6.78
Regular income withdrawals and maturities (0.39) (0.61) (0.07) (1.07)
Surrenders and part surrenders (0.63) (0.67) (0.97) (2.27)
------------ ------------ ------------ ------------
Closing funds under management 25.08 26.36 19.94 71.38
============ ============ ============ ============
Net inflows 0.59 2.36 1.78 4.73
============ ============ ============ ============
Implied surrender rate as a percentage of average funds
under management 3.5% 3.7% 7.1% 4.6%
Included within "UT/ISA & DFM" are gross inflows of GBP0.31 billion and outflows from regular income withdrawals and maturities of GBP0.11 billion in relation to the Rowan Dartington Group funds under management.
In addition, there is a further GBP443 million of funds under management in third party funds within our Asia business.
Nine Months Ended 30 September 2015 Investment Pension UT/ISA Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 21.14 18.08 12.79 52.01
Gross inflows 1.85 2.54 2.33 6.72
Net investment return (0.66) (0.66) (0.37) (1.69)
Regular income withdrawals and maturities (0.36) (0.46) - (0.82)
Surrenders and part surrenders (0.60) (0.47) (0.68) (1.75)
------------ ------------ ------------ ------------
Closing funds under management 21.37 19.03 14.07 54.47
============ ============ ============ ============
Net inflows 0.89 1.61 1.65 4.15
============ ============ ============ ============
Implied surrender rate as a percentage of average funds
under management 3.8% 3.4% 6.8% 4.4%
In addition, there was a further GBP428 million of funds under management in third party funds within our Asia business.
-4-
Three Months Ended 30 September 2016 Investment Pension UT/ISA Total
& DFM
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 23.59 23.79 18.18 65.56
Gross inflows 0.57 1.24 0.99 2.80
Net investment return 1.27 1.75 1.14 4.16
Regular income withdrawals and maturities (0.13) (0.21) (0.03) (0.37)
Surrenders and part surrenders (0.22) (0.21) (0.34) (0.77)
------------ ------------ ------------ ------------
Closing funds under management 25.08 26.36 19.94 71.38
============ ============ ============ ============
Net inflows 0.22 0.82 0.62 1.66
============ ============ ============ ============
Three Months Ended 30 September 2015 Investment Pension UT/ISA Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 21.93 19.39 14.14 55.46
Gross inflows 0.62 0.96 0.74 2.32
Net investment return (0.89) (0.98) (0.60) (2.47)
Regular income withdrawals and maturities (0.12) (0.17) - (0.29)
Surrenders and part surrenders (0.17) (0.17) (0.21) (0.55)
------------ ------------ ------------ ------------
Closing funds under management 21.37 19.03 14.07 54.47
============ ============ ============ ============
Net inflows 0.33 0.62 0.53 1.48
============ ============ ============ ============
-5-
2. Analysis of Funds under Management
The following table provides an analysis of the funds under management at 30 September 2016 split by geography and asset type:
30 September 2016 30 September 2015
GBP'Billion % of total GBP'Billion % of total
UK Equities 16.8 24% 15.3 28%
North American Equities 15.7 22% 11.4 21%
Fixed Interest 11.7 16% 8.3 15%
European Equities 7.7 11% 5.9 11%
Asia & Pacific Equities 6.3 9% 4.5 8%
Cash 5.4 7% 4.1 8%
Property 2.2 3% 2.1 4%
Alternative Investments 1.6 2% 1.2 2%
Other* 4.0 6% 1.7 3%
------------ ----------- ------------ -----------
Total 71.4 100% 54.5 100%
============ =========== ============ ===========
*Included within "Other" is GBP1.5 billion (2015: Nil) in relation to Rowan Dartington Group funds under management.
3. Gross Inflow Figures
Unaudited Unaudited
3 Months to 9 Months to
30 September 30 September
2016 2015 2016 2015
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Gross inflows
Investment 0.57 0.62 1.61 1.85
Pension 1.24 0.96 3.64 2.54
Unit Trust and ISA 0.99 0.74 2.82 2.33
------------ ------------ ------------ ------------
2.80 2.32 +21% 8.07 6.72 +20%
============ ============ ============ ============
4. EEV Net Asset Value per Share
The net asset value on the European Embedded Value basis at 30 September 2016 was approximately 850 pence per share (cum div) and 838 pence per share after the payment of the interim dividend on 30 September 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTDMMZGDDKGVZM
(END) Dow Jones Newswires
October 25, 2016 02:00 ET (06:00 GMT)
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