News
Third quarter interim management statement
TOTAL NEW INVESTMENTS £1.3 BILLION UP 14%
St. James’s Place plc (“SJP”), the wealth management group, today issues its interim management statement for the three months ended 30 September 2011.
Highlights for the three months are:
New Business
- Total single investments of £1.3 billion (2010: £1.1 billion), up 14%
- Total new business on an APE basis of £153.9 million (2010: £136.5 million), up 13%
- Our own business represents 90% of the total
Funds Under Management
- Net inflow of funds under management of £800 million (2010: £700 million)
- Continue to retain 95% of existing clients’ funds
- Funds under management of £26.7 billion, down 8% over the three months.
David Bellamy, Chief Executive, commented:
“I am pleased to report another very robust set of new business figures for the third quarter. The £1.3 billion of new investments brings the nine month’s gross inflows to £4 billion, up 14% on the same period last year.
Net inflows for the quarter totalled £800 million, resulting from new business and industry-leading fund retention levels.
The extremely volatile markets and uncertainty that has prevailed in recent weeks inevitably affect the timing of clients’ investment decisions, and we are not immune from that. Nevertheless, the breadth of our investment proposition, together with the strength of our distribution, continues to give us competitive advantage.
While mindful of the short term challenges, our business is in great shape and we remain confident about continuing to deliver on our ambitious growth targets over the medium term.”
The details of the announcement are attached.
Enquiries:
| David Bellamy, Chief Executive |
Tel: |
020 7514 1963 |
| Andrew Croft, Group Finance Director |
Tel: |
020 7514 1963 |
| Tulchan Communications Group Ltd |
Tel: |
020 7353 4200 |
| John Sunnucks/Michelle Clarke |
|
|
TOTAL NEW INVESTMENTS £1.3 BILLION UP 14%
St. James’s Place plc (“SJP”), the wealth management group, today issues its interim management statement for the three months ended 30 September 2011.
Highlights for the three months are:
New Business
- Total single investments of £1.3 billion (2010: £1.1 billion), up 14%
- Total new business on an APE basis of £153.9 million (2010: £136.5 million), up 13%
- Our own business represents 90% of the total
Funds Under Management
- Net inflow of funds under management of £800 million (2010: £700 million)
- Continue to retain 95% of existing clients’ funds
- Funds under management of £26.7 billion, down 8% over the three months.
David Bellamy, Chief Executive, commented:
“I am pleased to report another very robust set of new business figures for the third quarter. The £1.3 billion of new investments brings the nine month’s gross inflows to £4 billion, up 14% on the same period last year.
Net inflows for the quarter totalled £800 million, resulting from new business and industry-leading fund retention levels.
The extremely volatile markets and uncertainty that has prevailed in recent weeks inevitably affect the timing of clients’ investment decisions, and we are not immune from that. Nevertheless, the breadth of our investment proposition, together with the strength of our distribution, continues to give us competitive advantage.
While mindful of the short term challenges, our business is in great shape and we remain confident about continuing to deliver on our ambitious growth targets over the medium term.”
The details of the announcement are attached.
Enquiries:
| David Bellamy, Chief Executive |
Tel: |
020 7514 1963 |
| Andrew Croft, Group Finance Director |
Tel: |
020 7514 1963 |
| Tulchan Communications Group Ltd |
Tel: |
020 7353 4200 |
| John Sunnucks/Michelle Clarke |
|
|
View the full press release.
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