REG - St. James's Place - 2025 New Business Inflows & Funds Under Management

St Jamess PlaceAnnouncement

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RNS Number : 8016Q  St. James's Place PLC  29 January 2026

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PRESS RELEASE

 

29 January 2026

 

 ST. JAMES'S PLACE DELIVERS A STRONG YEAR OF NEW BUSINESS AND INVESTMENT
RETURNS

 

St. James's Place plc ('SJP') today issues an update on new business inflows
and funds under management for the year ended 31 December 2025.

 

                                                       2025          2024
                                                       £'Billion     £'Billion
 Gross inflows                                         21.88         18.41
 Net inflows                                           6.16          4.33
 Net investment return                                 23.64         17.68
 Closing funds under management                        220.01        190.21

 Funds under management retention rate(1)              94.9%         94.5%
 Net inflows/opening funds under management            3.2%          2.6%
 Net investment return/opening funds under management  12.4%         10.5%

(1) Our retention rate is calculated allowing for surrenders and
part-surrenders. It excludes regular income withdrawals and maturities.

 

Mark FitzPatrick, Chief Executive Officer, commented:

"I am pleased to report a strong year for SJP. Our advisers attracted £21.9
billion of new business, up 19% year-on-year. Combined with high retention of
94.9%, we achieved net inflows of £6.2 billion, up 42% year-on-year. We also
delivered strong investment performance for the benefit of our clients, with
returns representing 12% of opening funds under management. Together with net
inflows, this meant our FUM closed the year at £220.0 billion, a record high
and up 16% during the year.

 

The final quarter was marked by protracted speculation in the lead up to the
Autumn Budget at the end of November, and our new business performance
reflected clients' desire for trusted advice amid this period of heightened
uncertainty. Client-adviser engagement was unseasonally high in the third
quarter, linked to the successful implementation of our new charging structure
in late summer, resulting in lower levels of activity early in the final
quarter, as expected.

 

The final quarter also saw elevated short-term outflows, as many clients
accelerated tax-free cash (TFC) withdrawals from their pensions in
anticipation of reduced TFC allowances. As we exited the quarter, we were
pleased to see both outflow rates and client engagement normalise, and this
has continued into the early part of 2026.

 

2025 was a year of progress for SJP, where we strengthened our business for
the future whilst growing our client numbers, increasing our inflows,
delivering good investment returns and achieving record FUM. As anticipated,
clients and advisers successfully adapted to the implementation of our simple,
comparable charging structure. We also made good progress with our review of
historic ongoing service evidence and our cost and efficiency programme. We
enter 2026 with confidence and the changes we have made, combined with our
broader strategy to strengthen and grow SJP, leave us well placed to extend
our long-term leadership in a highly attractive marketplace."

 

 

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Enquiries:

 Hugh Taylor, Director - Investor Relations   Tel: 07818 075143
 Angela Warburton, Director - Communications  Tel: 07442 479542

 Brunswick Group:                             Tel: 020 7404 5959
 Eilis Murphy                                 Email: sjp@brunswickgroup.com (mailto:sjp@brunswickgroup.com)

 

 

Contents

 

1.     Funds under management

2.     Analysis of funds under management

 

 

 

1.     Funds under management

 

 Three months ended 31 December 2025                    Investment bond    Pension       UT/ISA and    Total

                                                                                          DFM
                                                        £'Billion          £'Billion     £'Billion     £'Billion
 Opening FUM                                            42.74              115.53        54.09         212.36
 Gross inflows                                          0.67               3.62          1.40          5.69
 Net investment return                                  1.36               4.19          1.53          7.08
 Regular income withdrawals and maturities              (0.09)             (1.75)        -             (1.84)
 Surrenders and part-surrenders                         (0.56)             (1.65)        (1.07)        (3.28)
 Closing FUM                                            44.12              119.94        55.95         220.01
 Net inflows/(outflows)                                 0.02               0.22          0.33          0.57
 Implied surrender rate as a percentage of average FUM  5.2%               5.6%          7.8%          6.1%

 

 

 Three months ended 31 December 2024                    Investment bond    Pension       UT/ISA and    Total

                                                                                          DFM
                                                        £'Billion          £'Billion     £'Billion     £'Billion
 Opening FUM                                            38.05              98.26         48.09         184.40
 Gross inflows                                          0.86               3.54          1.08          5.48
 Net investment return                                  0.90               2.56          0.82          4.28
 Regular income withdrawals and maturities              (0.08)             (1.24)        -             (1.32)
 Surrenders and part-surrenders                         (0.55)             (1.14)        (0.94)        (2.63)
 Closing FUM                                            39.18              101.98        49.05         190.21
 Net inflows/(outflows)                                 0.23               1.16          0.14          1.53
 Implied surrender rate as a percentage of average FUM  5.7%               4.6%          7.7%          5.6%

 

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 Twelve months ended 31 December 2025                   Investment bond    Pension       UT/ISA and    Total

                                                                                          DFM
                                                        £'Billion          £'Billion     £'Billion     £'Billion
 Opening FUM                                            39.18              101.98        49.05         190.21
 Gross inflows                                          3.02               13.86         5.00          21.88
 Net investment return                                  4.38               13.47         5.79          23.64
 Regular income withdrawals and maturities              (0.33)             (4.88)        -             (5.21)
 Surrenders and part-surrenders                         (2.13)             (4.49)        (3.89)        (10.51)
 Closing FUM                                            44.12              119.94        55.95         220.01
 Net inflows/(outflows)                                 0.56               4.49          1.11          6.16
 Implied surrender rate as a percentage of average FUM  5.1%               4.0%          7.4%          5.1%

 

 

 Twelve months ended 31 December 2024                   Investment bond    Pension       UT/ISA and    Total

                                                                                          DFM
                                                        £'Billion          £'Billion     £'Billion     £'Billion
 Opening FUM                                            35.99              87.32         44.89         168.20
 Gross inflows                                          2.42               12.06         3.93          18.41
 Net investment return                                  3.37               10.03         4.28          17.68
 Regular income withdrawals and maturities              (0.36)             (3.92)        -             (4.28)
 Surrenders and part-surrenders                         (2.24)             (3.51)        (4.05)        (9.80)
 Closing FUM                                            39.18              101.98        49.05         190.21
 Net inflows/(outflows)                                 (0.18)             4.63          (0.12)        4.33
 Implied surrender rate as a percentage of average FUM  6.0%               3.7%          8.6%          5.5%

 

 

2.     Analysis of funds under management

 

The table below provides a geographical and investment-type analysis of FUM at
31 December.

 

                            31 December 2025          31 December 2024
                            £'Billion     Percentage  £'Billion     Percentage

                                          of total                  of total
 North American equities    83.6          38%         74.9          39%
 Fixed income securities    36.8          17%         31.6          17%
 European equities          31.0          14%         24.3          13%
 Asia and Pacific equities  30.1          14%         24.0          13%
 UK equities                19.6          9%          16.0          8%
 Cash                       9.7           4%          6.9           4%
 Other                      4.5           2%          5.0           2%
 Alternative investments    4.2           2%          6.2           3%
 Property                   0.5           0%          1.3           1%
 Total                      220.0         100%        190.2         100%

 

 

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