First quarter interim management statement
CONTINUED STRONG GROWTH WITH NEW BUSINESS UP 18% AND NEW INVESTMENTS OF £1.3 BILLION
St. James’s Place plc (“SJP”), the wealth management group, today issues its interim management statement for the three months ended 31 March 2011.
Highlights for the three months are:
- Total new single investments of £1,288 million (2010: £1,115 million) up 16%
- Combined unit trust and ISA investments of £360.3 million (2010: £295.6 million) up 22%, with ISA business up 28%
- Total new business on an Annual Premium Equivalent (APE) basis of £156.7 million (2010: £133.3 million) up 18%
Funds under Management
- Funds under management of £28.0 billion, up 4% for the year to date and 20% over the twelve months
- Net inflow of funds under management of £0.8 billion and continued 95% retention
David Bellamy, Chief Executive, commented:
“We are pleased to report a good start to the year for St. James’s Place, with the Group having grown new business 18% against what was a strong comparator for 2010. Funds under management have grown 4% to £28.0 billion despite little help from stock markets over the quarter, highlighting the continued momentum in new business together with our excellent retention of existing client funds.
The increasing breadth of our investment proposition and the strength of our distribution leaves us well placed to deliver continued strong growth in the business going forward.”
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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