Third quarter interim management statement
TOTAL NEW INVESTMENTS OF £1.1 BILLION UP 32%
St. James’s Place plc (“SJP”), the wealth management group, today issues its interim management statement for the three months ended 30 September 2010.
Highlights for the three months are:
- Total single investments of £1.1 billion (2009: £0.8 billion), up 32%
- Total new business on an APE basis of £136.5 million (2009: £104.6 million), up 30%
- Our own business represents 89% of the total
Funds under Management
- Net inflow of funds under management of £700 million (2009: £600 million)
- Continue to retain 95% of existing clients’ funds
- Funds under management of £24.8 billion, up £2.4 billion over the three months
David Bellamy, Chief Executive, commented:
“We are delighted with the continued momentum in new business and investment inflows during the quarter, which is attributable to the increasing breadth of our investment offering and the strength of our distribution.
This performance, together with the recovery in world stock markets, has given rise to strong growth in funds under management to £24.8 billion. Funds under management have now doubled over the last five years.
Although the outlook was uncertain earlier in the year, 2010 is proving to be a very successful year for St. James’s Place. While we are up against tougher comparatives in the short term we remain confident in our ability to deliver average new business growth within our 15-20% per annum range over the medium term.”
The details of the announcement are attached.
|David Bellamy, Chief Executive
||020 7514 1963|
|Andrew Croft, Group Finance Director
||020 7514 1963|
|Tulchan Communications Group Ltd
||020 7353 4200 |
|John Sunnocks / Mal Patel
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