New business update - April 2020

RNS Number : 9885N

St. James's Place PLC

27 May 2020

 

ST. JAMES'S PLACE plc

27 St. James's Place, London SW1A 1NR

Telephone [phone]

PRESS RELEASE

27 May 2020

ST. JAMES'S PLACE WEALTH MANAGEMENT

CONTINUED RESILIENCE IN A CHALLENGING ENVIRONMENT

St. James's Place plc ("SJP"), the wealth management group, today issues an update on new business inflows and funds under management for the month to 30 April 2020.

The second ad hoc announcement on new business activity will be for the month to 31 May 2020 and will be made on 23 June 2020.

		2020	2019
		£'Billion	£'Billion
Gross inflows for April		1.17	1.35
Net inflows for April		0.81	0.80
Gross inflows for the four months to 30 April		5.21	4.96
Net inflows for the four months to 30 April		3.18	2.98
Closing funds under management		108.83	107.19
Year-to-date funds under management retention rate (annualised)		96.0%	95.8%
Year-to-date net inflows/opening funds under management (annualised)		8.2%	9.4%

Andrew Croft, Chief Executive, commented:

"Following record first quarter new business, we have naturally seen a reduction in new investments as the COVID-19 crisis developed. In light of the need to observe social distancing, the Partnership has quickly adapted to managing client relationships 'virtually' and April gross inflows were robust, albeit 13% lower than the same month last year. Retention of client investments was particularly strong during the month and as a result, April net inflows were 1% higher than a year ago. Funds under management benefitted from both positive net inflows and a positive investment return, to end the month at £108.8 billion.

We are encouraged by the robust gross and net inflows we have continued to experience during May, though the short to medium-term impact of government measures and economic volatility on our flows remains uncertain."

Enquiries:

Tony Dunk, Director - Investor Relations Hugh Taylor, Director - Investor Relations	Tel: [phone] Tel: [phone]
Jamie Dunkley, External Communications Director	Tel: [phone]
Brunswick Group: Charles Pretzlik/Eilis Murphy	Tel: [phone]
	Email: [e-mail]

 

END

 

 

TSTEAXSKAEDEEFA