Business
Q1 New Business Inflows and Dividend Update
Q1 New Business Inflows and Dividend Update.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \n \n RNS Number : 3978L\n St. James's Place PLC\n 30 April 2020\n \n \n \n \n \n \n \n -1-\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. THE PERSON RESPONSIBLE FOR ARRANGING THE RELEASE ON BEHALF OF THE GROUP IS JONATHAN DALE, DEPUTY COMPANY SECRETARY.\n \n \n \n \n \n ST. JAMES'S PLACE plc\n \n \n 27 St. James's Place, London SW1A 1NR\n \n \n Telephone 020 7493 8111\n \n \n \n \n \n PRESS RELEASE\n \n \n 30 April 2020\n \n \n \n \n \n ST. JAMES'S PLACE WEALTH MANAGEMENT\n \n \n \n \n \n NEW BUSINESS INFLOWS AND UPDATE ON DIVIDEND PAYMENTS\n \n \n \n \n \n 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 31 March 2020, as well as an update on dividend payments and the impact of COVID-19 on the business.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Q1 2020\n \n \n \n \n Q1 2019\n \n \n \n \n \n \n \n \n \n \n \n \n \n £'Billion\n \n \n \n \n £'Billion\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross inflows\n \n \n \n \n 4.04\n \n \n \n \n 3.61\n \n \n \n \n \n \n Net inflows\n \n \n \n \n 2.37\n \n \n \n \n 2.18\n \n \n \n \n \n \n Closing funds under management\n \n \n \n \n 101.67\n \n \n \n \n 103.52\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Funds under management retention rate (full year)\n \n \n \n \n 95.4%\n \n \n \n \n 95.9%\n \n \n \n \n \n \n Net inflows/opening funds under management (full year)\n \n \n \n \n 8.1%\n \n \n \n \n 9.1%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Andrew Croft, Chief Executive, commented:\n \n \n \n \n \n \"At the time of our full-year results announcement I commented that improved investor sentiment, following the UK General Election outcome, had driven an increase in activity across the business. This in turn has translated into first quarter gross inflows increasing 12% to £4.04 billion. With retention remaining very strong, net inflows for the period were up 9% at £2.37 billion, representing annualised growth of 8.1% on opening funds under management. \n \n \n \n \n \n With the escalation of the COVID-19 crisis during March there was a sh...