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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Aj Bell Plc | LSE:AJB | London | Ordinary Share | GB00BFZNLB60 | ORD GBP0.000125 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.50 | -1.77% | 304.50 | 304.00 | 305.50 | 310.50 | 304.00 | 310.50 | 125,652 | 14:41:48 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investment Advice | 218.23M | 68.22M | 0.1659 | 18.38 | 1.25B |
From Apr 2019 to Apr 2024
TIDMAJB
RNS Number : 1496X
AJ Bell PLC
26 April 2019
26 April 2019
AJ Bell plc
Q2 trading update
AJ Bell plc ("AJ Bell" or the "Company"), one of the UK's largest investment platforms, today issues a trading update in respect of the three months ended 31 March 2019.
Performance overview
Total customer numbers increased 5% in the quarter to 214,853, with total assets under administration ("AUA") up 8% to GBP47.7 billion. The growth during the period was driven primarily by the platform business:
Hot Features
Premium
-- Platform customer numbers increased by 10,424 to a record
high of 200,922, up 5% during the quarter
-- Platform AUA increased 9% to a new high of GBP40.6 billion
-- Platform AUA was boosted by a combination of underlying
net inflows of GBP0.8 billion, defined benefit ("DB")
pension transfers of GBP0.2 billion and favourable market
movements of GBP2.3 billion
-- In line with industry trends and the expectations set
out in the Company's Q1 trading update in January 2019,
DB pension transfers to the advised platform continued
to decline but still contributed to inflows during the
quarter
Andy Bell, Chief Executive Officer at AJ Bell, commented:
"Trading in the second quarter of our financial year remained robust despite continued weak investor sentiment. We continued to attract new customers and assets to our platform, with both measures hitting new highs during the period. This positions us well for an improvement in investor sentiment.
"We are due to announce our interim results on 23 May and we expect our financial performance to be slightly ahead of current market expectations."
Three months ended Advised D2C Platform Total Non-platform Total
31 March 2019 Platform GBPbillion Platform GBPbillion GBPbillion
GBPbillion GBPbillion
Opening AUA 28.6 8.7 37.3 6.9 44.2
------------------------------- ------------ ------------- ------------ ------------- -------------
Underlying inflows(1) 0.8 0.5 1.3 0.1 1.4
Outflows(2) (0.4) (0.1) (0.5) (0.1) (0.6)
------------------------------- ------------ ------------- ------------ ------------- -------------
Underlying net inflows 0.4 0.4 0.8 - 0.8
------------------------------- ------------ ------------- ------------ ------------- -------------
DB inflows(3) 0.2 - 0.2 - 0.2
Total net inflows 0.6 0.4 1.0 - 1.0
------------------------------- ------------ ------------- ------------ ------------- -------------
Market and other movements(4) 1.7 0.6 2.3 0.2 2.5
------------------------------- ------------ ------------- ------------ ------------- -------------
Closing AUA 30.9 9.7 40.6 7.1 47.7
------------------------------- ------------ ------------- ------------ ------------- -------------
Customers 93,496 107,426 200,922 13,931 214,853
Three months ended Advised D2C Platform Total Non-platform Total
31 March 2018 Platform GBPbillion Platform GBPbillion GBPbillion
GBPbillion GBPbillion
Opening AUA 26.1 7.5 33.6 8.4 42.0
------------------------------- ------------ ------------- ------------ ------------- -------------
Underlying inflows(1) 0.9 0.5 1.4 0.1 1.5
Outflows(2) (0.4) (0.1) (0.5) (0.1) (0.6)
------------------------------- ------------ ------------- ------------ ------------- -------------
Underlying net inflows 0.5 0.4 0.9 - 0.9
------------------------------- ------------ ------------- ------------ ------------- -------------
DB inflows(3) 0.5 - 0.5 - 0.5
Total net inflows 1.0 0.4 1.4 - 1.4
------------------------------- ------------ ------------- ------------ ------------- -------------
Market and other movements(4) (0.8) (0.4) (1.2) (0.4) (1.6)
------------------------------- ------------ ------------- ------------ ------------- -------------
Closing AUA 26.3 7.5 33.8 8.0 41.8
------------------------------- ------------ ------------- ------------ ------------- -------------
Customers 82,466 83,173 165,639 17,843 183,482
(1) Includes transfers-in, subscriptions, contributions and tax relief, excluding inflows from DB pension transfers
(2) Includes (transfers-out, cash withdrawals, benefits and tax payments)
(3) Inflows from DB pension transfers
(4) Includes (charges, taxes deducted, investment returns and revaluations)
Contacts:
AJ Bell
-- Shaun Yates, Head of Investor Relations +44 (0) 7522 235 898
-- Charlie Musson, Head of PR +44 (0) 7834 499 554
Instinctif Partners
Public relations adviser to AJ Bell
-- Ross Gillam +44 (0) 207 457 2020
-- Kaj Sahota +44 (0) 7341 731 189
-- Katie Bairsto +44 (0) 7946 424 651
Historical AUA and customer numbers by quarter
Advised Platform Qtr to Qtr to Qtr to Qtr to Qtr to
31 March 30 30 September 31 December 31 March
AUA (GBPbillion) 2018 June 2018 2018 2019
2018
Opening AUA 26.1 26.3 28.4 29.9 28.6
----------------------- ---------- ------- -------------- ------------- ----------
Underlying inflows(1) 0.9 0.9 0.8 0.8 0.8
Outflows(2) (0.4) (0.3) (0.4) (0.4) (0.4)
----------------------- ---------- ------- -------------- ------------- ----------
Underlying net
inflows 0.5 0.6 0.4 0.4 0.4
----------------------- ---------- ------- -------------- ------------- ----------
DB inflows(3) 0.5 0.4 0.3 0.3 0.2
Bulk migration - - 0.5(6) - -
inflows
Total net inflows 1.0 1.0 1.2 0.7 0.6
----------------------- ---------- ------- -------------- ------------- ----------
Market and other
movements(5) (0.8) 1.1 0.3 (2.0) 1.7
Closing AUA 26.3 28.4 29.9 28.6 30.9
---------- ------- -------------- -------------
Customers 82,466 85,131 88,658 90,865 93,496
D2C Platform Qtr to Qtr to Qtr to Qtr to Qtr to
31 March 30 30 September 31 December 31 March
AUA (GBPbillion) 2018 June 2018 2018 2019
2018
Opening AUA 7.5 7.5 8.3 8.7 8.7
----------------------- ---------- ------- -------------- ------------- ----------
Underlying inflows(1) 0.5 0.7 0.4 0.4 0.5
Outflows(2) (0.1) (0.2) (0.1) (0.2) (0.1)
----------------------- ---------- ------- -------------- ------------- ----------
Underlying net
inflows 0.4 0.5 0.3 0.2 0.4
----------------------- ---------- ------- -------------- ------------- ----------
Bulk migration - - - 0.2(4) -
inflows
Total net inflows 0.4 0.5 0.3 0.4 0.4
----------------------- ---------- ------- -------------- ------------- ----------
Market and other
movements(5) (0.4) 0.3 0.1 (0.4) 0.6
----------------------- ---------- ------- -------------- ------------- ----------
Closing AUA 7.5 8.3 8.7 8.7 9.7
----------------------- ---------- ------- -------------- ------------- ----------
Customers 83,173 89,660 94,555 99,633 107,426
Non-platform Qtr to Qtr to Qtr to Qtr to Qtr to
31 March 30 30 September 31 December 31 March
AUA (GBPbillion) 2018 June 2018 2018 2019
2018
Opening AUA 8.4 8.0 8.0 7.5 6.9
-------------------- ---------- ------- -------------- ------------- ----------
Inflows(1) 0.1 - - - 0.1
Outflows(2) (0.1) (0.2) (0.1) (0.3) (0.1)
-------------------- ---------- ------- -------------- ------------- ----------
Underlying net
outflows - (0.2) (0.1) (0.3) -
-------------------- ---------- ------- -------------- ------------- ----------
Bulk migration - - (0.5)(6) - -
outflows
Total net outflows - (0.2) (0.6) (0.3) -
-------------------- ---------- ------- -------------- ------------- ----------
Market and other
movements(5) (0.4) 0.2 0.1 (0.3) 0.2
-------------------- ---------- ------- -------------- ------------- ----------
Closing AUA 8.0 8.0 7.5 6.9 7.1
-------------------- ---------- ------- -------------- ------------- ----------
Customers 17,843 17,083 14,699 13,985 13,931
Total closing
AUA 41.8 44.7 46.1 44.2 47.7
-------------------- ---------- ------- -------------- ------------- ----------
(1) Includes transfers-in, subscriptions, contributions and tax relief, excluding inflows from DB pension transfers and bulk migrations
(2) Includes (transfers-out, cash withdrawals, benefits and tax payments)
(3) Inflows from DB pension transfers
(4) (AJ Bell plc shares held by employees and former employees of the Company, which were migrated onto the D2C Platform ahead of IPO)
(5) Includes (charges, taxes deducted, investment returns and revaluations)
(6) Non-recurring inflows/(outflows) from bulk customer (migrations)
About AJ Bell:
Established in 1995, AJ Bell is one of the largest investment platforms in the UK.
We operate in both the advised and direct-to-consumer segments of the platform market and our flagship platform propositions are AJ Bell Investcentre (adviser) and AJ Bell Youinvest (direct-to-consumer).
We offer SIPPs, ISAs and General Investment / Dealing Accounts. We aim to make it easy for our customers to invest by providing them with additional support in the form of various investment solutions and information. We offer a broad investment range including shares and other instruments traded on the major stock exchanges around the world, as well as all mainstream collective investments available in the UK and our own range of AJ Bell funds.
AJ Bell is headquartered in Manchester, UK.
Forward-looking statements
This announcement contains forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding AJ Bell's intentions, beliefs or current expectations concerning, among other things, its results of operations, financial condition, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as of the date of this announcement and AJ Bell does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTPGUGUCUPBGAA
(END) Dow Jones Newswires
April 26, 2019 02:00 ET (06:00 GMT)
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