Business
New Business Inflows and Funds under Management
New Business Inflows and Funds under Management.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \nRNS Number : 5116M St. James's Place PLC 21 January 2016 \n\n-1-\n \nST. JAMES'S PLACE plc\n27 St. James's Place, London SW1A 1NR\nTelephone 020 7493 8111 Facsimile 020 7493 2382\n \nPRESS RELEASE\n21 January 2016\n \nST. JAMES'S PLACE WEALTH MANAGEMENT\n \nSTRONG GROWTH TAKES FUNDS UNDER MANAGEMENT TO £58.6 BILLION\n \n \nSt. James's Place plc (\"SJP\"), the wealth management group, today issues an update on new business inflows and funds under management for the twelve months ended 31 December 2015.\n \nNew business\n \n· Gross inflow of funds at £2.52 billion was up 20% in the quarter (2014: £2.10 billion) taking the total for the year to £9.24 billion, up 17% (2014: £7.88 billion)\n· Continued strong retention of client funds c.95%\n· Net inflow of funds of £1.63 billion (2014: £1.39 billion) was up 17% in the quarter and 14% for the year at £5.78 billion (2014: £5.09 billion)\n· Funds under management of £58.6 billion (2014: £52.0 billion) up 13% for the year\n· Including Rowan Dartington, group funds under management would total £59.8 billion\n \nPartnership\n \n· Partnership numbers of 2,264 up 6.2%\n· Total advisers of 3,113 up 9.8%\n \nDavid Bellamy, Chief Executive, commented:\n \n\"Despite the continued volatility across global stock markets, our business continues to perform strongly. Gross inflows for the full year in 2015 were 17% higher at a record £9.24 billion which, together with the sustained high retention of clients and their investments, resulted in record net inflows in the twelve months of £5.78 billion, growth of 14%. Particularly pleasing was the very strong gross and net inflows in the final quarter with growth of 20% and 17% respectively, maintaining the momentum we have seen each quarter of the year. \n \nAlongside these strong fund inflows and supported by the success of our Academy and expansion in Asia we've increased the size of our Partner and adviser teams by 6.2% and 9.8% respectively. This increase in our capacity to attract new clients and to build upon existing relationships, bodes well ...