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

Continued growth in new inflows takes funds under management to over £100 billion.

St. James's Place plc, the wealth management group, today issues its update on new business inflows and funds under management for the nine months ended 30 September 2018.

Highlights:

• Gross inflow of funds of £11.75 billion (2017: £10.46 billion), up 12%.
• Continued strong retention of client funds - 96%.
• Net inflow of funds of £7.68 billion (2017: £6.66 billion), up 15%.
• Group funds under management - £100.6 billion (2017: £85.7 billion), up 11% since the beginning of the year and 17% over the twelve months.

Andrew Croft, Chief Executive, commented:

'Building on the exceptional growth we achieved over the last two years, I am pleased to report continued growth in the third quarter. Gross flows, at £3.83 billion, were 7% higher than the prior year comparator, which itself was up 28%. This takes the year to date gross flows to £11.75 billion, growth of 12%. With continued strong retention, net flows for the nine months were up 15% to £7.68 billion, taking funds under management to a record £100.6 billion, up 11% since the start of the year and 17% over the twelve months.

We have delivered this continued growth despite both tough comparatives and a more challenging environment for the industry, once again demonstrating our resilience in these market conditions.

There remains growing demand for high-quality financial advice, notwithstanding the current macro and geo-political uncertainty. With the strength and professionalism of the Partnership, together with the breadth of our client proposition, we have a major and sustainable competitive advantage. Consequently, we remain confident in our ability to grow our business in line with our stated objectives over the medium-term.'

Enquiries:

Andrew Croft, Chief Executive Officer	Tel: [phone]
Craig Gentle, Chief Financial Officer	Tel: [phone]
Tony Dunk, Investor Relations Director	Tel: [phone]
Brunswick Group	Tel: [phone]
Charles Pretzlik	[e-mail]
Chris Buscombe	[e-mail]

View the full press release (PDF).

Most computers will open PDF documents automatically, but you may need to download Adobe Reader.