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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 | |
---|---|---|---|---|---|---|---|---|---|---|
2.00 | 0.65% | 311.50 | 309.00 | 310.00 | 312.50 | 306.00 | 306.00 | 971,078 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investment Advice | 218.23M | 68.22M | 0.1659 | 18.66 | 1.27B |
TIDMAJB
RNS Number : 2252W
AJ Bell PLC
22 April 2021
22 April 2021
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 2021.
Performance overview
Total customer numbers increased to 346,797, up 32% over the last year and 11% in the quarter, with total net inflows in the quarter of GBP1.5 billion (2020: GBP1.3 billion).
Total assets under administration ("AUA") increased to GBP65.2 billion, up 35% over the last year and 4% in the quarter.
Platform business
AJ Bell's platform business saw continued organic growth in customer numbers, net inflows and AUA:
-- Platform customer numbers grew by a record 34,223 in the quarter, an increase of 64% compared to the second quarter of the prior year (2020: 20,872) -- Total platform customers closed at 332,276, up 34% over the last year and 11% in the quarter o Advised customers of 118,509, up 14% over the last year and 6% in the quarter o D2C customers of 213,767, up 48% over the last year and 15% in the quarter -- Platform net inflows increased by 13% over the prior year to GBP1.8 billion (2020: GBP1.6 billion) o Advised net inflows of GBP0.9 billion, in line with the prior year (2020: GBP0.9 billion) o D2C net inflows of GBP0.9 billion, up 29% on the prior year (2020: GBP0.7 billion) -- Platform AUA closed at GBP58.0 billion, up 38% over the last year and 5% in the quarter
AJ Bell Investments
-- Net inflows in the quarter were GBP311 million, up 132% on the prior year (2020: GBP134 million) -- Assets under management ("AUM") increased to GBP1.4 billion, up 180% over the last year and 40% in the quarter
Andy Bell, Chief Executive Officer at AJ Bell, commented:
"The run up to the recent tax year-end was our busiest ever, driving strong growth in customer numbers and assets under administration during our second quarter. Our easy-to-use, low-cost platform continues to perform well in both the financial adviser and direct-to-consumer markets.
"Our adviser platform saw its largest ever quarterly increase in new customers. This is testimony to our award-winning proposition and the price advantage our customers enjoy compared to other major adviser platforms.
"Our direct-to-consumer platform saw record growth in customer numbers and inflows in the quarter. We continue to see growing numbers of younger people joining the platform as they look to take control of their long-term financial future via pensions and ISAs. Our new and existing customers continue to consolidate existing investments onto our platform, meaning we are growing quickly whilst maintaining a high average customer portfolio of GBP79,000.
"Our investment business also had another strong quarter, with both advisers and customers recognising the value and performance our low-cost investment solutions are delivering. Our managed portfolio service is growing increasingly popular with financial advisers and our range of multi-asset funds is seeing strong inflows, with our Responsible Growth fund proving particularly popular.
"Our assets under administration surpassed GBP65 billion for the first time and momentum remains strong going into the second half of our financial year."
Notice of interim results
AJ Bell expects to announce its full results for the six months ended 31 March 2021 on 27 May 2021.
Three months ended Advised D2C Platform Total Non-platform Total 31 March 2021 Platform Platform Opening customers 112,308 185,745 298,053 14,256 312,309 Closing customers 118,509 213,767 332,276 14,521 346,797 AUA and AUM (GBPbillion) ------------------------------- ---------- ------------- ---------- ------------- -------- Opening AUA 39.7 15.5 55.2 7.3 62.5 ------------------------------- ---------- ------------- ---------- ------------- -------- Inflows(1) 1.5 1.3 2.8 - 2.8 Outflows(2) (0.6) (0.4) (1.0) (0.3) (1.3) ------------------------------- ---------- ------------- ---------- ------------- -------- Net inflows 0.9 0.9 1.8 (0.3) 1.5 ------------------------------- ---------- ------------- ---------- ------------- -------- Market and other movements(3) 0.5 0.5 1.0 0.2 1.2 ------------------------------- ---------- ------------- ---------- ------------- -------- Closing AUA 41.1 16.9 58.0 7.2 65.2 ------------------------------- ---------- ------------- ---------- ------------- -------- Closing AUM 0.8 0.6 1.4 (4) - 1.4 Three months ended Advised D2C Platform Total Non-platform Total 31 March 2020 Platform Platform Opening customers 100,170 127,032 227,202 13,950 241,152 Closing customers 103,974 144,100 248,074 14,105 262,179 AUA and AUM (GBPbillion) ------------------------------- ---------- ------------- ---------- ------------- -------- Opening AUA 35.2 12.0 47.2 7.5 54.7 ------------------------------- ---------- ------------- ---------- ------------- -------- Inflows(1) 1.4 0.9 2.3 - 2.3 Outflows(2) (0.5) (0.2) (0.7) (0.3) (1.0) ------------------------------- ---------- ------------- ---------- ------------- -------- Net inflows/(outflows) 0.9 0.7 1.6 (0.3) 1.3 ------------------------------- ---------- ------------- ---------- ------------- -------- Market and other movements(3) (4.7) (2.1) (6.8) (0.9) (7.7) ------------------------------- ---------- ------------- ---------- ------------- -------- Closing AUA 31.4 10.6 42.0 6.3 48.3 ------------------------------- ---------- ------------- ---------- ------------- -------- Closing AUM 0.3 0.2 0.5 (4) - 0.5
(1) Transfers-in, subscriptions, contributions and tax relief
(2) T (ransfers-out, cash withdrawals, benefits and tax payments)
(3) Total i (nvestment returns and revaluations, net of charges and taxes)
(4) Platform AUA which is held in AJ Bell's Funds or Managed Portfolio Service
Contacts:
AJ Bell
-- Shaun Yates, Head of Investor Relations +44 (0) 7522 235 898
-- Charlie Musson, Head of PR +44 (0) 7834 499 554
Historical customer numbers, AUA and AUM by quarter
Advised Platform Qtr to Qtr to Qtr to Qtr to Qtr to 31 30 30 31 31 March June September December March 2020 2020 2020 2020 2021 Customers 103,974 106,335 108,911 112,308 118,509 AUA and AUM (GBPbillion) -------------------------- -------- -------- ----------- ---------- -------- Opening AUA 35.2 31.4 35.2 36.3 39.7 -------------------------- -------- -------- ----------- ---------- -------- Inflows(1) 1.4 1.0 1.0 1.3 1.5 Outflows(2) (0.5) (0.3) (0.4) (0.5) (0.6) -------------------------- -------- -------- ----------- ---------- -------- Net inflows 0.9 0.7 0.6 0.8 0.9 -------------------------- -------- -------- ----------- ---------- -------- Market and other movements(3) (4.7) 3.1 0.5 2.6 0.5 Closing AUA 31.4 35.2 36.3 39.7 41.1 -------- -------- ----------- ---------- Closing AUM(4) 0.3 0.4 0.4 0.6 0.8 D2C Platform Qtr to Qtr to Qtr to Qtr to Qtr to 31 30 30 31 31 March June September December March 2020 2020 2020 2020 2021 Customers 144,100 162,109 172,183 185,745 213,767 AUA and AUM (GBPbillion) -------------------------- -------- -------- ----------- ---------- -------- Opening AUA 12.0 10.6 12.5 13.4 15.5 -------------------------- -------- -------- ----------- ---------- -------- Inflows(1) 0.9 1.0 0.6 0.9 1.3 Outflows(2) (0.2) (0.2) (0.3) (0.2) (0.4) -------------------------- -------- -------- ----------- ---------- -------- Net inflows 0.7 0.8 0.3 0.7 0.9
-------------------------- -------- -------- ----------- ---------- -------- Market and other movements(3) (2.1) 1.1 0.6 1.4 0.5 -------------------------- -------- -------- ----------- ---------- -------- Closing AUA 10.6 12.5 13.4 15.5 16.9 -------------------------- -------- -------- ----------- ---------- -------- Closing AUM(4) 0.2 0.3 0.4 0.4 0.6 Non-platform Qtr to Qtr to Qtr to Qtr to Qtr to 31 30 30 31 31 March June September December March 2020 2020 2020 2020 2021 Customers 14,105 14,175 14,211 14,256 14,521 AUA (GBPbillion) ------------------------ -------- ------- ----------- ---------- ------- Opening AUA 7.5 6.3 6.6 6.8 7.3 ------------------------ -------- ------- ----------- ---------- ------- Inflows(1) - - 0.1 0.1 - Outflows(2) (0.3) (0.3) (0.1) - (0.3) ------------------------ -------- ------- ----------- ---------- ------- Net (outflows)/inflows (0.3) (0.3) - 0.1 (0.3) ------------------------ -------- ------- ----------- ---------- ------- Market and other movements(3) (0.9) 0.6 0.2 0.4 0.2 ------------------------ -------- ------- ----------- ---------- ------- Closing AUA 6.3 6.6 6.8 7.3 7.2 ------------------------ -------- ------- ----------- ---------- ------- Total closing AUA 48.3 54.3 56.5 62.5 65.2 ------------------------ -------- ------- ----------- ---------- ------- Total closing AUM 0.5 0.7 0.8 1.0 1.4 ------------------------ -------- ------- ----------- ---------- -------
(1) Transfers-in, subscriptions, contributions and tax relief
(2) T (ransfers-out, cash withdrawals, benefits and tax payments)
(3) Total i (nvestment returns and revaluations, net of charges and taxes)
(4) Platform AUA which is held in AJ Bell's Funds or Managed Portfolio Service
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 which provide access to 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. We also offer a Cash savings hub which provides access to a range of competitive savings accounts to help people manage their cash savings.
We aim to make it easy for our customers to save and invest by providing them with online tools and information to help them build and manage their portfolios.
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.
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April 22, 2021 02:00 ET (06:00 GMT)
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