New business update - May 2020

RNS Number : 6964Q

St. James's Place PLC

23 June 2020

 

ST. JAMES'S PLACE plc

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

Telephone [phone]

PRESS RELEASE

23 June 2020

ST. JAMES'S PLACE WEALTH MANAGEMENT

FLOWS REMAIN ROBUST 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 31 May 2020.

		2020	2019
		£'Billion	£'Billion
Gross inflows for May		0.98	1.24
Net inflows for May		0.67	0.73
Gross inflows for the five months to 31 May		6.19	6.20
Net inflows for the five months to 31 May		3.85	3.71
Closing funds under management		112.58	105.83
Year-to-date funds under management retention rate (annualised)		96.4%	95.9%
Year-to-date net inflows/opening funds under management (annualised)		7.9%	9.3%

Andrew Croft, Chief Executive, commented:

"Despite the continuing challenges presented by COVID-19, gross flows in May were robust. Retention of existing client investments remains particularly strong, providing for a net inflow for the month of £0.67 billion. Funds under management benefitted from both these positive net inflows and the continuing recovery of world stock markets, to end the month at £112.6 billion.

We remain encouraged by the inflows we are continuing to experience and expect June gross inflows to be similar to May, though the short to medium-term impact of COVID-19 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]

 

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