REG - St. James's Place - Q3 New Business Inflows and Funds Under Management
20/10/2022 07:01
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221020:nRST4574Da&default-theme=true
RNS Number : 4574D St. James's Place PLC 20 October 2022
-1-
PRESS RELEASE
20 October 2022
ST. JAMES'S PLACE REPORTS OVER £4 BILLION OF NEW CLIENT INVESTMENTS IN Q3
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 2022.
Q3 2022 Q3 2021
£'Billion £'Billion
Gross inflows 4.05 4.32
Net inflows 2.19 2.59
Closing funds under management 143.14 148.06
Year-to-date funds under management retention rate (annualised) 96.5% 96.2%
Year-to-date net inflows/opening funds under management (annualised) 6.7% 8.4%
Andrew Croft, Chief Executive Officer, commented:
"In a challenging external environment, I am pleased to report another strong
quarter for St. James's Place. At times like these, the focus of our advisers
is to remain close to their clients and provide them with timely, personal,
and trusted advice that helps them consider and manage near-term pressures
while maintaining a long-term mindset. This has underpinned gross inflows of
£4.05 billion, only modestly lower versus a record comparative period in
2021. Retention has remained very strong, supporting net inflows of £2.19
billion and contributing to funds under management closing the period at
£143.14 billion.
Although we face an uncertain geopolitical and macroeconomic backdrop, the
Partnership remains critically placed to help clients plan, save and invest
for the future, building confidence in their long-term finances. Our business
has proven its strength over time and this, together with our resilient
financial model, means that we expect 2022 to be another year of good progress
towards the 2025 goals we have set, and we are comfortable with consensus
expectations for new business and our financial performance for the year."
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
Charles Pretzlik Email: cpretzlik@brunswickgroup.com (mailto:cpretzlik@brunswickgroup.com)
Eilis Murphy Email: emurphy@brunswickgroup.com (mailto:emurphy@brunswickgroup.com)
-2-
Contents
1. Funds under management
2. Analysis of funds under management
3. EEV net asset value per share
1. Funds under management
Three months ended 30 September 2022 Investment Pension UT/ISA and DFM Total
£'Billion £'Billion £'Billion £'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 £3.18 billion at 30 September
2022, gross inflows of £0.08 billion for the quarter and outflows of
£0.03 billion.
· SJP Asia FUM of £1.50 billion at 30 September 2022, gross
inflows of £0.05 billion for the quarter and outflows of £0.03 billion.
Three months ended 30 September 2021 Investment Pension UT/ISA and DFM Total
£'Billion £'Billion £'Billion £'Billion
Opening FUM 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 FUM 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 FUM 4.0% 2.1% 5.0% 3.4%
Included in the table above is:
· Rowan Dartington Group FUM of £3.38 billion at 30 September
2021, gross inflows of £0.15 billion for the quarter and outflows of
£0.03 billion.
· SJP Asia FUM of £1.48 billion at 30 September 2021, gross
inflows of £0.08 billion for the quarter and outflows of £0.02 billion.
-3-
Nine months ended 30 September 2022 Investment Pension UT/ISA and DFM Total
£'Billion £'Billion £'Billion £'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 £3.18 billion at 30 September
2022, gross inflows of £0.33 billion for the nine-month period and outflows
of £0.09 billion.
· SJP Asia FUM of £1.50 billion at 30 September 2022, gross
inflows of £0.22 billion for nine-month period and outflows of
£0.07 billion.
Nine months ended 30 September 2021 Investment Pension UT/ISA and DFM Total
£'Billion £'Billion £'Billion £'Billion
Opening FUM 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 FUM 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 FUM 4.5% 2.2% 5.7% 3.8%
Included in the table above is:
· Rowan Dartington Group FUM of £3.38 billion at 30 September
2021, gross inflows of £0.43 billion for the nine-month period and outflows
of £0.11 billion.
· SJP Asia FUM of £1.48 billion at 30 September 2021, gross
inflows of £0.26 billion for the nine-month period and outflows of £0.09
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 2022 30 September 2021
£'Billion Percentage £'Billion Percentage
of total of total
North American equities 47.3 33% 41.8 28%
Fixed income securities 21.7 15% 24.0 16%
Asia and Pacific equities 17.8 12% 21.4 14%
European equities 17.1 12% 17.5 12%
UK equities 15.4 11% 19.8 13%
Alternative investments 12.4 9% 11.5 8%
Cash 6.1 4% 6.2 4%
Property 2.6 2% 2.5 2%
Other 2.7 2% 3.4 3%
Total 143.1 100% 148.1 100%
3. EEV net asset value per share
The net asset value on the European Embedded Value basis at 30 September 2022
was approximately £16.26 per share.
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
. END TSTGZMMGKLGGZZMRecent news on St James's Place
See all newsREG - St. James's Place - CFO Succession
AnnouncementREG - St. James's Place - Holding(s) in Company
AnnouncementREG - St. James's Place - Total Voting Rights
AnnouncementREG - St. James's Place - Director/PDMR Shareholding
AnnouncementREG - St. James's Place - Holding(s) in Company
Announcement