New business update - April 2020
Source: RNSST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111
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: 07831 426216 Tel: 07818 075143 |
|
Jamie Dunkley, External Communications Director |
Tel: 07779 999651 |
|
Brunswick Group: Charles Pretzlik/Eilis Murphy |
Tel: 020 7404 5959 |
|
|
Email: sjp@brunswickgroup.com |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
