Fourth quarter interim management statement
Total new investments of £5.2 billion up 10%
Net inflows of £3.3 billion also up 10%
St. James’s Place plc (“SJP”), the wealth management group, today issues its new business update for the twelve months ended 31 December 2011.
Highlights for the twelve months are:
- Total single investments of £5.2 billion (2010: £4.75 billion), up 10%
- Total new business on an APE basis of £642.3 million (2010: £581.8 million), up 10%
- Pensions new business on an APE basis of £288.2 million (2010: £240.6 million), up 20%
- Our own business represents 91% of the total (2010: 91%)
Funds Under Management
- Net inflow of funds under management of £3.3 billion (2010: £3.0 billion)
- Continue to retain 95% of existing clients’ funds
- Funds under management of £28.5 billion, up some 6% over the year
- Partnership numbers up 6.3% to 1,649
- 80% of the Partnership have achieved Diploma level (the new regulatory qualification requirement) with a further 11% within one or two exams
David Bellamy, Chief Executive, commented:
“I am very pleased to report another record year for new business despite the difficult economic conditions that prevailed throughout the year and in particular the extreme volatility that characterised stock markets in the second half of the year.
"St. James’s Place attracted £5.2 billion of new investments in 2011, while the strength of client relationships established by our Partners saw fund retention continue at 95%. As a result assets under management have grown to £28.5 billion.
"We also have excellent momentum in other aspects of the business. The growth in Partner numbers, the addition of new investment funds and the progress made in achieving the new regulatory qualification levels all bode well for the future. Consequently, while mindful of the difficult economic conditions that persist, we have a good platform for further growth in new business in 2012.”
|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|
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