News
Fourth quarter new business announcement
37% GROWTH IN NEW SINGLE INVESTMENTS DRIVES FUNDS
UNDER MANAGEMENT TO £27 BILLION
St. James’s Place plc (“SJP”), the wealth management group, today issues its new business update for the twelve months ended 31 December 2010.
Highlights for the twelve months are:
New Business
- Total single investments of £4.75 billion (2009: £3.46 billion), up 37%
- Total new business on an APE basis of £581.8 million (2009: £440.8 million), up 32%
- Manufactured business represents 91% of new business (2009: 91%)
Funds Under Management
- Net inflow of funds under management of £3.0 billion (2009: £2.3 billion), up 30%
- Continue to retain 95% of existing clients’ funds
- Funds under management of £27.0 billion, up £5.6 billion over the year
Partnership
- Partnership numbers up 6% for the year to 1,552
David Bellamy, Chief Executive, commented:
“I am extremely pleased to report another year of record new business for St. James’s Place, including a strong final quarter. New investments of £4.75 billion coupled with the excellent retention of existing client funds and further growth in stock markets, have resulted in funds under management reaching an all time high of £27 billion.
We remain committed to recruiting only the highest quality advisers into the Partnership, while ensuring that we are able to offer a best in class investment proposition for clients. We believe this focused approach will enable us to maintain momentum in our business and provide a good platform to deliver 15-20% per annum new business growth 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
John Sunnucks/Mal Patel |
Tel: 020 7353 4200 |
View the full press release.
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