Q4 New Business Inflows and Funds Under Management

RNS Number : 7515Z
St. James's Place PLC
27 January 2022
 

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ST. JAMES'S PLACE plc

27 St. James's Place, London SW1A 1NR

Telephone 020 7493 8111

 

PRESS RELEASE

27 January 2022

 

ST. JAMES'S PLACE REPORTS CONTINUED STRONG GROWTH IN THE FOURTH

QUARTER TOGETHER WITH RECORD FUNDS UNDER MANAGEMENT

 

St. James's Place plc ("SJP") today issues an update on new business inflows and funds under management for the three months ended 31 December 2021.

 


Q4 2021

Q4 2020


£'Billion

£'Billion




Gross inflows

4.69

4.02

Net inflows

2.91

2.29

Closing funds under management

153.99

129.34




Funds under management retention rate (full year)

96.4%

96.4%

Net inflows/opening funds under management (full year)

8.5%

7.1%




Number of qualified advisers at close

4,556

4,338




Andrew Croft, Chief Executive, commented:

"I am pleased to report a very strong final quarter, rounding out a record year of new business for St. James's Place. We saw a favourable market backdrop continue into the fourth quarter and this, together with the hard work of our advisers, has enabled us to attract £4.69 billion of new client investments. This takes total gross inflows for the year to £18.20 billion, 27% higher than in 2020 and exceeding our previous guidance.

We continued to achieve exceptional retention of client investments, with the 2021 retention rate being the strongest year in our history. This results in net inflows of £11.04 billion for the year, representing 8.5% of opening funds under management and contributing to funds under management closing at a record £153.99 billion, up 19%.

As we look ahead, our performance in 2021, together with the growth in the Partnership and continued long-term demand for face-to-face advice, means we remain confident in achieving our 2025 ambitions."

 

 



 

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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: Charles Pretzlik/Eilis Murphy

 

Tel: 020 7404 5959


Email: sjp@brunswickgroup.com



 

 

Contents

 

1.  Funds under management

2.  Analysis of funds under management

 

 



 

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1.  Funds under management

 

Three months ended 31 December 2021

Investment


Pension


UT/ISA & DFM


Total


£'Billion


£'Billion


£'Billion


£'Billion

Opening funds under management

35.03 


71.59 


41.44 


148.06 

Gross inflows

0.76 


2.54 


1.39 


4.69 

Net investment return

0.60 


1.54 


0.88 


3.02 

Regular income withdrawals and maturities

(0.08)


(0.45)



(0.53)

Surrenders and part surrenders

(0.36)


(0.39)


(0.50)


(1.25)

Closing funds under management

35.95 


74.83 


43.21 


153.99 

Net inflows

0.32 


1.70 


0.89 


2.91 

Implied surrender rate as a percentage of

average funds under management

4.1%


2.1%


4.7%


3.3%

 

Rowan Dartington Group FUM was £3.52 billion at 31 December 2021, gross inflows were £0.12 billion for the quarter and outflows were £0.03 billion. SJP Asia FUM was £1.57 billion at 31 December 2021, gross inflows were £0.10 billion for the quarter and outflows were £0.01 billion.

 

 

Three months ended 31 December 2020

Investment


Pension


UT/ISA & DFM


Total


£'Billion


£'Billion


£'Billion


£'Billion

Opening funds under management

30.18 


55.57 


32.95 


118.70 

Gross inflows

0.51 


2.37 


1.14 


4.02 

Net investment return

1.97 


4.07 


2.31 


8.35 

Regular income withdrawals and maturities

(0.06)


(0.38)



(0.44)

Surrenders and part surrenders

(0.38)


(0.32)


(0.59)


(1.29)

Closing funds under management

32.22 


61.31 


35.81 


129.34

Net inflows

0.07 


1.67 


0.55 


2.29 

Implied surrender rate as a percentage of

average funds under management

4.9%


2.2%


6.9%


4.2%

 

Rowan Dartington Group FUM was £2.86 billion at 31 December 2020, gross inflows were £0.13 billion for the quarter and outflows were £0.03 billion. SJP Asia FUM was £1.17 billion at 31 December 2020, gross inflows were £0.11 billion for the quarter and outflows were £0.02 billion.  

 



 

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Twelve months ended 31 December 2021

Investment


Pension


UT/ISA & DFM


Total


£'Billion


£'Billion


£'Billion


£'Billion

Opening funds under management

32.22 


61.31 


35.81 


129.34 

Gross inflows

2.62 


9.86 


5.72 


18.20 

Net investment return

2.89 


6.89 


3.83 


13.61 

Regular income withdrawals and maturities

(0.28)


(1.72)



(2.00)

Surrenders and part surrenders

(1.50)


(1.51)


(2.15)


(5.16)

Closing funds under management

35.95 


74.83 


43.21 


153.99 

Net inflows

0.84 


6.63 


3.57 


11.04 

Implied surrender rate as a percentage of

average funds under management

4.4%


2.2%


5.4%


3.6%

 

Rowan Dartington Group FUM was £3.52 billion at 31 December 2021, gross inflows were £0.55 billion for the year and outflows were £0.14 billion. SJP Asia FUM was £1.57 billion at 31 December 2021, gross inflows were £0.36 billion for the year and outflows were £0.10 billion.

 

Twelve months ended 31 December 2020

Investment


Pension


UT/ISA & DFM


Total


£'Billion


£'Billion


£'Billion


£'Billion

Opening funds under management

31.22 


52.84 


32.93 


116.99 

Gross inflows

1.77 


8.44 


4.12 


14.33 

Net investment return

0.75 


2.61 


0.74 


4.10 

Regular income withdrawals and maturities

(0.25)


(1.37)



(1.62)

Surrenders and part surrenders

(1.27)


(1.21)


(1.98)


(4.46)

Closing funds under management

32.22 


61.31 


35.81 


129.34 

Net inflows

0.25 


5.86 


2.14 


8.25 

Implied surrender rate as a percentage of

average funds under management

4.0%


2.1%


5.8%


3.6%

 

Rowan Dartington Group FUM was £2.86 billion at 31 December 2020, gross inflows were £0.43 billion for the year and outflows were £0.15 billion. SJP Asia FUM was £1.17 billion at 31 December 2020, gross inflows were £0.32 billion for the year and outflows were £0.06 billion.

 



 

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2.  Analysis of funds under management

 

The following table provides an analysis of the funds under management at 31 December split by geography and asset type:

 


31 December 2021


31 December 2020


£'Billion


% of total


£'Billion


% of total

North American Equities

47.3


31%


31.3


24%

Fixed Interest

25.4


16%


22.7


18%

UK Equities

21.5


14%


18.7


14%

Asia and Pacific Equities

18.6


12%


19.9


15%

European Equities

17.8


11%


13.9


11%

Alternative Investments

11.9


8%


10.3


8%

Cash

5.9


4%


7.0


5%

Property

2.6


2%


2.5


2%

Other

3.0


2%


3.0


3%

Total

154.0


100%


129.3


100%

 

 

 

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