Business
Q3 New Business Inflows and Funds under Management
Q3 New Business Inflows and Funds under Management.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7089P\n St. James's Place PLC\n 21 October 2021\n \n \n \n \n -1-\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 21 October 2021\n \n \n \n \n \n ST. JAMES'S PLACE WEALTH MANAGEMENT\n \n \n \n \n \n RECORD THIRD QUARTER FLOWS AND FUNDS UNDER MANAGEMENT\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 30 September 2021.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Q3 2021\n \n \n \n \n Q3 2020\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 4.32\n \n \n \n \n 3.05\n \n \n \n \n \n \n Net inflows \n \n \n \n \n 2.59\n \n \n \n \n 1.44\n \n \n \n \n \n \n Closing funds under management\n \n \n \n \n 148.06\n \n \n \n \n 118.70\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 Year-to-date funds under management retention rate (annualised)\n \n \n \n \n 96.2%\n \n \n \n \n 96.4%\n \n \n \n \n \n \n Year-to-date net inflows/opening funds under management (annualised)\n \n \n \n \n 8.4%\n \n \n \n \n 6.8%\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 \"I am delighted to report another strong quarter for St. James's Place. Increased personal savings and improving consumer confidence have provided a favorable market backdrop and this, together with the great work our advisers do in supporting clients with their long-term financial planning, has driven gross inflows of £4.32 billion for the quarter, up strongly against a soft comparator in 2020. Retention has remained robust, underpinning net inflows of £2.59 billion for the period, and contributing to funds under management closing at £148.06 billion, up 14% year to-date.\n \n \n \n \n \n There remains uncertainty around the near-term economic and investment market outlook, but our business is in great shape and we now anticipate the rate of gross inflow growth for the second hal...