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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 | |
---|---|---|---|---|---|---|---|---|---|---|
12.20 | 2.70% | 464.50 | 463.20 | 463.70 | 463.80 | 449.80 | 456.70 | 2,531,712 | 16:35:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 18.98B | -10.1M | -0.0184 | -251.85 | 2.54B |
TIDMSTJ
RNS Number : 4631X
St. James's Place PLC
30 April 2019
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ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111
PRESS RELEASE
30 April 2019
ST. JAMES'S PLACE WEALTH MANAGEMENT
ST. JAMES'S PLACE FUNDS UNDER MANAGEMENT REACH GBP103.5 BILLION
St. James's Place plc ("SJP"), the wealth management group, today issues an update on new business inflows and funds under management for the three months ended 31 March 2019.
Q1 2019 Q1 2018 GBP'Billion GBP'Billion Gross inflows 3.61 3.91 Net inflows 2.18 2.60 Closing Funds under Management 103.52 89.91 Funds under management retention rate (annualised) 95.9% 96.2% Net inflows/opening funds under management (annualised) 9.1% 11.5%
Andrew Croft, Chief Executive, commented:
"We have experienced a good start to the year, attracting GBP3.61 billion of gross inflows which, together with continued strong retention, has resulted in net inflows for the quarter of GBP2.18 billion - equating to 2.3% of opening funds under management (9.1% on an annualised basis). This performance demonstrates the resilience of our business through the current political and macro-economic uncertainty.
These net inflows, coupled with positive investment returns, have resulted in an 8.3% increase in Funds under Management to a record GBP103.5 billion at the end of March.
Whilst uncertainty will inevitably impact investor sentiment from time to time, it does not change the long-term needs of individuals. There remains both a growing market for trusted face-to-face advice in the UK and an advice gap that represents a major opportunity for us. Given the scale and quality of the St. James's Place Partnership we are confident of both the resilience of the business in more difficult times and our ability to continue to grow the business over the medium to long term."
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The details of the announcement are attached.
Enquiries:
Andrew Croft, Chief Executive Tel: 020 7514 1963 Officer Craig Gentle, Chief Financial Tel: 020 7514 1963 Officer Tony Dunk, Investor Relations Tel: 020 7514 1963 Director Jamie Dunkley, External Communications Tel: 020 7514 1963 Director Brunswick Group Tel: 020 7404 5959 Charles Pretzlik Email: cpretzlik@brunswickgroup.com Tom Burns Email: tburns@brunswickgroup.com
Contents
1. Funds under Management 2. Analysis of Funds under Management 3. Gross Inflow Figures 4. EEV Net Asset Value per Share
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1. Funds under Management Three Months Ended 31 March 2019 Investment Pension UT/ISA & DFM Total GBP'Billion GBP'Billion GBP'Billion GBP'Billion Opening funds under management 27.62 40.72 27.21 95.55 Gross inflows 0.50 2.02 1.09 3.61 Net investment return 1.44 2.65 1.70 5.79 Regular income withdrawals and maturities (0.13) (0.28) - (0.41) Surrenders and part surrenders (0.28) (0.25) (0.49) (1.02) ------------ ------------ ------------- ------------ Closing funds under management 29.15 44.86 29.51 103.52 ============ ============ ============= ============ Net inflows 0.09 1.49 0.60 2.18 ============ ============ ============= ============ Implied surrender rate as a percentage of average funds under management 3.9% 2.4% 6.9% 4.1%
Included within "UT/ISA & DFM" are closing funds under management of GBP2.54 billion, gross inflows of GBP0.15 billion and outflows of GBP0.04 billion in relation to the Rowan Dartington Group funds under management.
In addition, there is a further GBP411 million of funds under management in third party funds within our Asia
business.
Three Months Ended 31 March 2018 Investment Pension UT/ISA & DFM Total GBP'Billion GBP'Billion GBP'Billion GBP'Billion Opening funds under management 28.31 36.15 26.29 90.75 Gross inflows 0.60 2.17 1.14 3.91 Net investment return (0.97) (1.36) (1.11) (3.44) Regular income withdrawals and maturities (0.16) (0.29) - (0.45) Surrenders and part surrenders (0.21) (0.26) (0.39) (0.86) ------------ ------------ ------------- ------------ Closing funds under management 27.57 36.41 25.93 89.91 ============ ============ ============= ============ Net inflows 0.23 1.62 0.75 2.60 ============ ============ ============= ============ Implied surrender rate as a percentage of average funds under management 3.0% 2.9% 6.0% 3.8%
Included within "UT/ISA & DFM" are closing funds under management of GBP2.09 billion, gross inflows of GBP0.11 billion and outflows of GBP0.02 billion in relation to the Rowan Dartington Group funds under management.
In addition, there is a further GBP473 million of funds under management in third party funds within our Asia
business.
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2. Analysis of Funds under Management
The following table provides an analysis of the funds under management at 31 March split by geography and asset type:
31 March 2019 31 March 2018 GBP'Billion % of total GBP'Billion % of total North American Equities 21.6 21% 19.1 21% UK Equities 18.7 18% 18.5 21% Fixed Interest 18.5 18% 17.9 20% European Equities 11.3 11% 10.2 12% Asia & Pacific Equities 10.8 10% 8.2 9% Alternative Investments 8.1 8% 2.7 3% Cash 6.9 7% 6.5 7% Property 3.0 3% 3.0 3% Other 4.6 4% 3.8 4% ------------ ----------- ------------ ----------- Total 103.5 100% 89.9 100% ============ =========== ============ =========== 3. Gross Inflow Figures Unaudited 3 Months to 31 March 2019 2018 GBP'Billion GBP'Billion Gross inflows Investment 0.50 0.60 Pension 2.02 2.17 Unit Trust/ISA & DFM 1.09 1.14 ------------ ------------ 3.61 3.91 -8% ============ ============ 4. EEV Net Asset Value per Share
The net asset value on the European Embedded Value basis at 31 March 2019 was approximately 1,190 pence per share (cum div) and approximately 1,160 pence per share after the payment of the proposed full year dividend on 24 May 2019.
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.
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April 30, 2019 02:00 ET (06:00 GMT)
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