TIDMSTJ
RNS Number : 3004Q
St. James's Place PLC
17 October 2023
-1-
PRESS RELEASE
17 October 2023
ST. JAMES'S PLACE DELIVERS ANOTHER RESILIENT NEW BUSINESS
PERFORMANCE
St. James ' s Place plc ('SJP') today issues an update on new
business inflows and funds under management for the three months
ended 30 September 2023.
Q3 2023 Q3 2022
----------- -----------
GBP'Billion GBP'Billion
---------------------------------------------------------- ----------- -----------
Gross inflows 3.68 4.05
Net inflows 0.91 2.19
Closing funds under management 158.57 143.14
Year-to-date funds under management annual retention rate
(full year) (1) 95.3% 96.5%
Year-to-date annualised net inflows/opening funds under
management (full year) 3.9% 6.7%
---------------------------------------------------------- ----------- -------------
(1) Throughout this press release our retention rate is
calculated as annualised surrenders and part-surrenders, divided by
average funds under management. It excludes regular income
withdrawals and maturities.
Andrew Croft, Chief Executive Officer, commented:
"I am pleased to announce another robust quarter for St. James's
Place, with our advisers attracting GBP3.7 billion of new client
investments to the business, while annualised retention rates
remain strong at 95.3% for the year-to-date.
The demand for trusted, face-to-face financial advice remains as
strong as ever, but client capacity and confidence to commit to
long-term investment continues to be impacted by an environment
characterised by higher interest rates, stubbornly high inflation
and short-term alternatives in the form of cash.
Despite the challenging operating environment, we continue to
generate significant levels of net inflows, once again
demonstrating the ongoing resilience of our business model.
Looking forward, we are beginning to see signs that inflation is
moderating and that the current cycle of interest rate increases
may be reaching a peak, bringing some optimism that this will ease
the pressure on clients and will, in due course, provide for a more
favorable operating environment over time.
As a long-term business, we remain committed to delivering
strong client outcomes, and working towards our 2025
ambitions."
The details of the announcement are attached.
Enquiries:
Hugh Taylor, Director - Investor Relations Tel: 07818 075143
Jamie Dunkley, External Communications Director Tel: 07779 999651
Brunswick Group: Tel: 020 7404 5959
Eilis Murphy Email: sjp@brunswickgroup.com
Charles Pretzlik
Contents
1. Funds under management
2. Analysis of funds under management
3. EEV net asset value per share
-2-
1. Funds under management
UT/ISA and
Investment Pension DFM Total
------------------------------------------------------ ----------- ----------- ----------- -----------
Three months ended 30 September 2023 GBP'Billion GBP'Billion GBP'Billion GBP'Billion
------------------------------------------------------ ----------- ----------- ----------- -----------
Opening FUM 34.36 79.87 43.29 157.52
Gross inflows 0.51 2.42 0.75 3.68
Net investment return 0.14 0.26 (0.26) 0.14
Regular income withdrawals and maturities (0.07) (0.65) - (0.72)
Surrenders and part-surrenders (0.51) (0.59) (0.95) (2.05)
------------------------------------------------------ ----------- ----------- ----------- -----------
Closing FUM 34.43 81.31 42.83 158.57
------------------------------------------------------ ----------- ----------- ----------- -----------
Net inflows/(outflows) (0.07) 1.18 (0.20) 0.91
Implied surrender rate as a percentage of average FUM 5.9% 2.9% 8.8% 5.2%
------------------------------------------------------ ----------- ----------- ----------- -----------
Included in the table above is:
-- Rowan Dartington Group FUM of GBP3.26 billion at 30 September
2023, gross inflows of GBP0.09 billion for the quarter and outflows
of GBP0.05 billion.
-- SJP Asia FUM of GBP1.62 billion at 30 September 2023, gross
inflows of GBP0.04 billion for the quarter and outflows of GBP0.03
billion.
UT/ISA and
Investment Pension DFM Total
------------------------------------------------------ ----------- ----------- ----------- -----------
Three months ended 30 September 2022 GBP'Billion GBP'Billion GBP'Billion GBP'Billion
------------------------------------------------------ ----------- ----------- ----------- -----------
Opening FUM 32.75 69.58 39.93 142.26
Gross inflows 0.56 2.46 1.03 4.05
Net investment return (0.33) (0.56) (0.42) (1.31)
Regular income withdrawals and maturities (0.07) (0.43) - (0.50)
Surrenders and part-surrenders (0.37) (0.38) (0.61) (1.36)
------------------------------------------------------ ----------- ----------- ----------- -----------
Closing FUM 32.54 70.67 39.93 143.14
------------------------------------------------------ ----------- ----------- ----------- -----------
Net inflows 0.12 1.65 0.42 2.19
Implied surrender rate as a percentage of average FUM 4.5% 2.2% 6.1% 3.8%
------------------------------------------------------ ----------- ----------- ----------- -----------
Included in the table above is:
-- Rowan Dartington Group FUM of GBP3.18 billion at 30 September
2022, gross inflows of GBP0.08 billion for the quarter and outflows
of GBP0.03 billion.
-- SJP Asia FUM of GBP1.50 billion at 30 September 2022, gross
inflows of GBP0.05 billion for the quarter and outflows of GBP0.03
billion.
-3-
UT/ISA and
Investment Pension DFM Total
------------------------------------------------------ ----------- ----------- ----------- -----------
Nine months ended 30 September 2023 GBP'Billion GBP'Billion GBP'Billion GBP'Billion
------------------------------------------------------ ----------- ----------- ----------- -----------
Opening FUM 33.29 73.86 41.22 148.37
Gross inflows 1.61 7.31 2.80 11.72
Net investment return 1.22 3.36 1.27 5.85
Regular income withdrawals and maturities (0.28) (1.71) - (1.99)
Surrenders and part-surrenders (1.41) (1.51) (2.46) (5.38)
------------------------------------------------------ ----------- ----------- ----------- -----------
Closing FUM 34.43 81.31 42.83 158.57
------------------------------------------------------ ----------- ----------- ----------- -----------
Net inflows/(outflows) (0.08) 4.09 0.34 4.35
Implied surrender rate as a percentage of average FUM 5.6% 2.6% 7.8% 4.7%
------------------------------------------------------ ----------- ----------- ----------- -----------
Included in the table above is:
-- Rowan Dartington Group FUM of GBP3.26 billion at 30 September
2023, gross inflows of GBP0.29 billion for the nine-month period
and outflows of GBP0.14 billion.
-- SJP Asia FUM of GBP1.62 billion at 30 September 2023, gross
inflows of GBP0.15 billion for the nine-month period and outflows
of GBP0.10 billion.
UT/ISA and
Investment Pension DFM Total
------------------------------------------------------ ----------- ----------- ----------- -----------
Nine months ended 30 September 2022 GBP'Billion GBP'Billion GBP'Billion GBP'Billion
------------------------------------------------------ ----------- ----------- ----------- -----------
Opening FUM 35.95 74.83 43.21 153.99
Gross inflows 1.76 7.56 3.84 13.16
Net investment return (3.82) (9.32) (5.44) (18.58)
Regular income withdrawals and maturities (0.22) (1.29) - (1.51)
Surrenders and part-surrenders (1.13) (1.11) (1.68) (3.92)
------------------------------------------------------ ----------- ----------- ----------- -----------
Closing FUM 32.54 70.67 39.93 143.14
------------------------------------------------------ ----------- ----------- ----------- -----------
Net inflows 0.41 5.16 2.16 7.73
Implied surrender rate as a percentage of average FUM 4.4% 2.0% 5.4% 3.5%
------------------------------------------------------ ----------- ----------- ----------- -----------
Included in the table above is:
-- Rowan Dartington Group FUM of GBP3.18 billion at 30 September
2022, gross inflows of GBP0.33 billion for the nine-month period
and outflows of GBP0.09 billion.
-- SJP Asia FUM of GBP1.50 billion at 30 September 2022, gross
inflows of GBP0.22 billion for the nine-month period and outflows
of GBP0.07 billion.
-4-
2. Analysis of funds under management
The table below provides a geographical and investment-type
analysis of FUM at 30 September.
30 September
30 September 2023 2022
-------------------------- ----------------------- -----------------------
Percentage Percentage
GBP'Billion of total GBP'Billion of total
-------------------------- ----------- ---------- ----------- ----------
North American equities 54.2 34% 47.3 33%
Fixed income securities 24.5 16% 21.7 15%
European equities 22.8 14% 17.1 12%
Asia and Pacific equities 19.6 12% 17.8 12%
UK equities 15.5 10% 15.4 11%
Alternative investments 11.2 7% 12.4 9%
Cash 5.6 4% 6.1 4%
Other 3.3 2% 2.7 2%
Property 1.9 1% 2.6 2%
Total 158.6 100% 143.1 100%
-------------------------- ----------- ---------- ----------- ----------
3. EEV net asset value per share
The net asset value on the European Embedded Value basis at 30
September 2023 was approximately GBP13.60 per share, taking into
account the changes to our charging structure that we have
announced today.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTKZMMGLVZGFZM
(END) Dow Jones Newswires
October 17, 2023 02:00 ET (06:00 GMT)
St. James's Place (LSE:STJ)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
St. James's Place (LSE:STJ)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
