First quarter interim management statement
Total single investments remain strong at £759 million
St. James’s Place plc (“SJP”), the wealth management group, today issues its interim management statement for the three months ended 31 March 2008.
Highlights for the three months are:
- New total single investments at £759 million in line with 2007
- Pension single investments of £252 million up 8%
- Funds under management at £17.2 billion down 5% since the start of the year and up 6% over the last twelve months
- Total new business (on an annual premium equivalent) of £98.7 million up 1%
Mike Wilson, Chairman, commented:
“We are very pleased that, despite challenging market conditions, new business is ahead of the same period last year, which was itself up 41% on the prior year.
“We are confident that we will increase our market share in the current year and our new business target remains 15-20% over the longer term.
“Last week St. James’s Place won the Financial Times and Investors Chronicle Wealth Manager of the Year Award, having won The Daily Telegraph Wealth Manager of the Year Award last year. Both awards are a tribute to the quality of the St. James’s Place Partnership.”
The details of the announcement are attached.
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