St James Place : Third quarter new business inflows and funds under management update

Strong inflows and investment performance drive funds under management to a record £71 billion.

St. James's Place plc ('SJP'), the wealth management group, today issues its update on new business inflows and funds under management for the three months ended 30 September 2016.

Highlights:

• Gross inflows of funds under management of £2.80 billion (2015: £2.32 billion)
• Continued strong retention of client funds - 95%
• Net inflow of funds under management of £1.66 billion (2015: £1.48 billion)
• Group funds under management of £71.4 billion (2015: £54.5 billion)

David Bellamy, Chief Executive, commented:

'The third quarter fell between two political turning points in the UK: the EU referendum result announced on 24 June and Theresa May's first Brexit planning speech on 3 October. However, despite the backdrop of political uncertainty, it's been very much business as usual and we've maintained good momentum in the business since the half year, with new investments in the most recent three months 21% higher at £2.8 billion. Together with the continued high retention of clients and their investments, this resulted in net inflows in the period of £1.66 billion. At £71.4 billion, Group funds under management are £12.8 billion higher than at the beginning of the year.

The globally diverse range of funds and portfolios we offer, continues to serve our clients well. However, recognising the growing client demand for income, we were pleased to announce the launch of a new Worldwide Income fund earlier this month, managed by the investment team at Investec Asset Management, based in Cape Town and led by Clyde Rossouw.
These results and continued resilience of our business give us further confidence that, through the outstanding job our Partners do in managing their clients' financial affairs and our distinctive approach to the management of their wealth, we can continue to grow our business in line with our objectives in the final quarter of 2016 and beyond.'

Enquiries:

David Bellamy, Chief Executive Officer	Tel: [phone]
Andrew Croft, Chief Financial Officer	Tel: [phone]
Tony Dunk, Investor Relations Director	Tel: [phone]
Bell Pottinger John Sunnucks & Ben Woodford	Tel: [phone]

View the full press release(PDF).

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