St. James's Place PLC Q3 New Business Inflows and Funds under Management (7089P)
21 Octubre 2021 - 1:00AM
UK Regulatory
TIDMSTJ
RNS Number : 7089P
St. James's Place PLC
21 October 2021
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ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111
PRESS RELEASE
21 October 2021
ST. JAMES'S PLACE WEALTH MANAGEMENT
RECORD THIRD QUARTER FLOWS AND FUNDS UNDER MANAGEMENT
St. James's Place plc ("SJP"), the wealth management group,
today issues an update on new business inflows and funds under
management for the three months ended 30 September 2021.
Q3 2021 Q3 2020
GBP'Billion GBP'Billion
Gross inflows 4.32 3.05
Net inflows 2.59 1.44
Closing funds under management 148.06 118.70
Year-to-date funds under management retention
rate (annualised) 96.2% 96.4%
Year-to-date net inflows/opening funds under
management (annualised) 8.4% 6.8%
Andrew Croft, Chief Executive, commented:
"I am delighted to report another strong quarter for St. James's
Place. Increased personal savings and improving consumer confidence
have provided a favorable market backdrop and this, together with
the great work our advisers do in supporting clients with their
long-term financial planning, has driven gross inflows of GBP4.32
billion for the quarter, up strongly against a soft comparator in
2020. Retention has remained robust, underpinning net inflows of
GBP2.59 billion for the period, and contributing to funds under
management closing at GBP148.06 billion, up 14% year to-date.
There remains uncertainty around the near-term economic and
investment market outlook, but our business is in great shape and
we now anticipate the rate of gross inflow growth for the second
half to be modestly ahead of our previous guidance issued in late
July. As a result, we expect growth in gross inflows for the full
year to be around 25%. Beyond 2021, it is natural that we will see
variations in the pattern of new business growth we achieve over
time, but our performance this year gives us every confidence in
the 2025 ambitions we set out for St. James's Place earlier this
year."
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The details of the announcement are attached.
Enquiries:
Hugh Taylor, Director - Investor Tel: 07818 075143
Relations
Jamie Dunkley, External Communications Tel: 07779 999651
Director
Brunswick Group: Charles Pretzlik/Eilis Tel: 020 7404 5959
Murphy
Email: sjp@brunswickgroup.com
Contents
1. Funds under management
2. Analysis of funds under management
3. Gross inflow figures
4. EEV net asset value per share
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1. Funds under management
Three months ended 30 September 2021 Investment Pension UT/ISA & DFM Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 34.46 69.15 40.16 143.77
Gross inflows 0.62 2.34 1.36 4.32
Net investment return 0.38 0.89 0.43 1.70
Regular income withdrawals and maturities (0.08) (0.42) - (0.50)
Surrenders and part surrenders (0.35) (0.37) (0.51) (1.23)
------------ ------------ ------------- ------------
Closing funds under management 35.03 71.59 41.44 148.06
============ ============ ============= ============
Net inflows 0.19 1.55 0.85 2.59
============ ============ ============= ============
Implied surrender rate as a percentage of
average funds under management 4.0% 2.1% 5.0% 3.4%
Rowan Dartington Group FUM was GBP3.38 billion at 30 September
2021, gross inflows were GBP0.15 billion for the quarter and
outflows were GBP0.03 billion. SJP Asia FUM was GBP1.48 billion at
30 September 2021, gross inflows were GBP0.08 billion for the
quarter and outflows were GBP0.02 billion.
Three months ended 30 September 2020 Investment Pension UT/ISA & DFM Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 29.88 53.52 32.28 115.68
Gross inflows 0.33 1.96 0.76 3.05
Net investment return 0.31 0.86 0.41 1.58
Regular income withdrawals and maturities (0.06) (0.40) - (0.46)
Surrenders and part surrenders (0.28) (0.37) (0.50) (1.15)
------------ ------------ ------------- ------------
Closing funds under management 30.18 55.57 32.95 118.70
============ ============ ============= ============
Net inflows (0.01) 1.19 0.26 1.44
============ ============ ============= ============
Implied surrender rate as a percentage of
average funds under management 3.7% 2.7% 6.1% 3.9%
Rowan Dartington Group FUM was GBP2.72 billion at 30 September
2020, gross inflows were GBP0.09 billion for the quarter and
outflows were GBP0.03 billion. SJP Asia FUM was GBP1.06 billion at
30 September 2020, gross inflows were GBP0.06 billion for the
quarter and outflows were GBP0.01 billion.
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Nine months ended 30 September 2021 Investment Pension UT/ISA & DFM Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 32.22 61.31 35.81 129.34
Gross inflows 1.86 7.32 4.33 13.51
Net investment return 2.29 5.35 2.95 10.59
Regular income withdrawals and maturities (0.20) (1.27) - (1.47)
Surrenders and part surrenders (1.14) (1.12) (1.65) (3.91)
------------ ------------ ------------- ------------
Closing funds under management 35.03 71.59 41.44 148.06
============ ============ ============= ============
Net inflows 0.52 4.93 2.68 8.13
============ ============ ============= ============
Implied surrender rate as a percentage of
average funds under management 4.5% 2.2% 5.7% 3.8%
Rowan Dartington Group FUM was GBP3.38 billion at 30 September
2021, gross inflows were GBP0.43 billion for the nine-month period
and outflows were GBP0.11 billion. SJP Asia FUM was GBP1.48 billion
at 30 September 2021, gross inflows were GBP0.26 billion for the
nine-month period and outflows were GBP0.09 billion.
Nine months ended 30 September 2020 Investment Pension UT/ISA & DFM Total
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Opening funds under management 31.22 52.84 32.93 116.99
Gross inflows 1.26 6.07 2.98 10.31
Net investment return (1.22) (1.46) (1.57) (4.25)
Regular income withdrawals and maturities (0.19) (0.99) - (1.18)
Surrenders and part surrenders (0.89) (0.89) (1.39) (3.17)
------------ ------------ ------------- ------------
Closing funds under management 30.18 55.57 32.95 118.70
============ ============ ============= ============
Net inflows 0.18 4.19 1.59 5.96
============ ============ ============= ============
Implied surrender rate as a percentage of
average funds under management 3.9% 2.2% 5.6% 3.6%
Rowan Dartington Group FUM was GBP2.72 billion at 30 September
2020, gross inflows were GBP0.30 billion for the nine-month period
and outflows were GBP0.12 billion. SJP Asia FUM was GBP1.06 billion
at 30 September 2020, gross inflows were GBP0.21 billion for the
nine-month period and outflows were GBP0.04 billion.
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2. Analysis of funds under management
The following table provides an analysis of the funds under
management at 30 September split by geography and asset type:
30 September 2021 30 September 2020
GBP'Billion % of total GBP'Billion % of total
North American Equities 41.8 28% 27.0 23%
Fixed Interest 24.0 16% 22.2 19%
Asia and Pacific Equities 21.4 14% 17.4 15%
UK Equities 19.8 13% 16.6 14%
European Equities 17.5 12% 12.5 10%
Alternative Investments 11.5 8% 9.7 8%
Cash 6.2 4% 7.8 7%
Property 2.5 2% 2.6 2%
Other 3.4 3% 2.9 2%
------------ ----------- ------------ -----------
Total 148.1 100% 118.7 100%
============ =========== ============ ===========
3. Gross inflow figures
Unaudited Unaudited
3 Months to 9 Months to
30 September 30 September
2021 2020 2021 2020
GBP'Billion GBP'Billion GBP'Billion GBP'Billion
Gross inflows
Investment 0.62 0.33 1.86 1.26
Pension 2.34 1.96 7.32 6.07
Unit Trust/ISA & DFM 1.36 0.76 4.33 2.98
------------ ------------ ------------ ------------
4.32 3.05 +42% 13.51 10.31 +31%
============ ============ ============ ============
4. EEV net asset value per share
The net asset value on the European Embedded Value basis at 30
September 2021 was approximately 1,590 pence per share.
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END
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