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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
  -12.00p -1.14% 1,042.50p 1,039.00p 1,039.50p 1,054.00p 1,033.00p 1,054.00p 1,851,218 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 0.0 -84.6 33.0 31.6 5,531.29

St. James's Place PLC Q1 New Business Inflows and Funds under Management

30/04/2019 7:00am

UK Regulatory (RNS & others)


St. James's Place (LSE:STJ)
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2 Months : From Apr 2019 to Jun 2019

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RNS Number : 4631X

St. James's Place PLC

30 April 2019

-1-

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.

-4-

   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.

END

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