Business
Interim Management Statement Q3 New Business
Interim Management Statement Q3 New Business.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \nRNS Number : 2382R St. James's Place PLC 24 October 2013 \n\n-1-\nST. JAMES'S PLACE plc\n27 St. James's Place, London SW1A 1NR\nTelephone 020 7493 8111 Facsimile 020 7493 2382\n \nPRESS RELEASE\n24 October 2013\n \nINTERIM MANAGEMENT STATEMENT\nFOR THREE MONTHS TO 30 SEPTEMBER 2013\n \n \nCONTINUED STRONG MOMENTUM \nWITH RECORD FUNDS UNDER MANAGEMENT OF £41.8 BILLION \n \nSt. James's Place plc (\"SJP\"), the wealth management group, today issues its interim management statement for the three months ended 30 September 2013.\n \nNew Business\n \n· Total single investments of £1.7 billion (2012: £1.3 billion), up 27%\n· Total new business on an APE basis of £203.9 million (2012: £165.6 million), up 23%\n \nFunds under Management\n \n· Net inflow of funds under management of £1.03 billion (2012: £0.75 billion) up 37%\n· Funds under management of £41.8 billion (2012: £32.8 billion) up 5% over the three months and 20% since the start of the year\n· Continue to retain 95% of existing clients' funds\n \nDavid Bellamy, Chief Executive, commented:\n \n\"I am very pleased to be reporting another quarter of strong growth in new investments which, combined with our investment performance and the continued high retention of our clients' existing funds, saw our funds under management increase by £1.9 billion in the quarter to a record £41.8 billion, up £7.0 billion since the start of the year.\n \nThere is a reassuring consistency about our business that, at its core, is about maintaining long lasting relationships with our Partners and clients alike and serving them well. The focus we have maintained on those relationships and providing our clients with reliable added value advice and investment performance has enabled us to double our funds under management over the last four years. \n \nWe believe in face-to-face advice and are committed to delivering this through our dedicated and professional team of advisers, the Partnership. We also believe in active investment management with the breadth of our investment proposition today providing a balance and dependency that our clients appreciate.\n \nThe momentum ...