Trading Statement
Summary by AI BETAClose X
PRESS RELEASE
29 October 2026
ST. JAMES’S PLACE REPORTS THIRD QUARTER PERFORMANCE AND 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 30 September 2026.
|
|
Q3 2026 |
Q3 2025 |
|
|
£’Billion |
£’Billion |
|
Gross inflows |
5.15 |
5.70 |
|
Net inflows |
0.57 |
1.76 |
|
Closing funds under management |
242.44 |
212.36 |
|
|
|
|
|
Year-to-date funds under management retention rate (annualised)1 |
95.1% |
95.2% |
|
Year-to-date net inflows/opening funds under management (annualised) |
2.0% |
3.9% |
1 Our retention rate is calculated allowing for surrenders and part-surrenders. It excludes regular income withdrawals and maturities.
Mark FitzPatrick, Chief Executive Officer, commented:
“During the period, our advisers have been active supporting clients through market volatility and providing guidance ahead of the Autumn Budget. Against this backdrop, we attracted £5.2 billion of gross inflows during the quarter, bringing total gross inflows to £15.6 billion year to date. While lower than the exceptionally strong comparative period last year, which benefited from high levels of activity linked to the implementation of our new charging structure, the quarter demonstrated the continued strength of our Partnership.
Another quarter of net inflows, together with positive investment returns for clients, saw funds under management reach a record £242.4 billion. Net inflows were lower than in the prior year, reflecting the strong comparative period. Outflows were broadly stable relative to funds under management, with client retention remaining high at 95.1% year to date.
Alongside our trading performance, we continue to make progress in delivering our strategy. Over the past two years, we have simplified the business, improved efficiency and created greater capacity to invest for the future. We continue to invest in the areas that will drive future growth, including enhancing the proposition and experience for clients, strengthening the support we provide to the Partnership, and using technology and AI to improve productivity across the business.
Building on the stronger foundations we have established, we remain confident in the significant long-term opportunity for financial advice in the UK and in our ability to capture it. We look forward to providing more detail on Amplify, the next phase of our strategy to deliver sustainable long-term growth, at our full-year results in February.”
The details of the announcement are attached.
-1-
Enquiries:
|
Hugh Taylor, Director – Investor Relations |
Tel: 07818 075143 |
|
Tom Sullivan, Divisional Director – External Communications |
Tel: 07443 218693 |
|
Brunswick Group: |
Tel: 020 7404 5959 |
|
Eilís Murphy
|
Email: sjp@brunswickgroup.com
|
Contents
- Funds under management
- Analysis of funds under management
- EEV net asset value per share
- Funds under management
|
Three months ended 30 September 2026 |
Investment bond |
Pension |
UT/ISA and DFM |
Total |
|
£’Billion |
£’Billion |
£’Billion |
£’Billion |
|
|
Opening FUM |
47.21 |
132.21 |
61.36 |
240.78 |
|
Gross inflows |
0.63 |
3.08 |
1.44 |
5.15 |
|
Net investment return |
0.21 |
0.72 |
0.16 |
1.09 |
|
Regular income withdrawals and maturities |
(0.08) |
(1.42) |
- |
(1.50) |
|
Surrenders and part-surrenders |
(0.55) |
(1.28) |
(1.25) |
(3.08) |
|
Closing FUM |
47.42 |
133.31 |
61.71 |
242.44 |
|
Net inflows/(outflows) |
0.00 |
0.38 |
0.19 |
0.57 |
|
Implied surrender rate as a percentage of average FUM |
4.6% |
3.9% |
8.1% |
5.1% |
|
Three months ended 30 September 2025 |
Investment bond |
Pension |
UT/ISA and DFM |
Total |
|
£’Billion |
£’Billion |
£’Billion |
£’Billion |
|
|
Opening FUM |
40.34 |
107.27 |
50.89 |
198.50 |
|
Gross inflows |
0.83 |
3.75 |
1.12 |
5.70 |
|
Net investment return |
2.19 |
6.83 |
3.08 |
12.10 |
|
Regular income withdrawals and maturities |
(0.08) |
(1.21) |
- |
(1.29) |
|
Surrenders and part-surrenders |
(0.54) |
(1.11) |
(1.00) |
(2.65) |
|
Closing FUM |
42.74 |
115.53 |
54.09 |
212.36 |
|
Net inflows/(outflows) |
0.21 |
1.43 |
0.12 |
1.76 |
|
Implied surrender rate as a percentage of average FUM |
5.2% |
4.0% |
7.6% |
5.2% |
-2-
|
Nine months ended 30 September 2026 |
Investment bond |
Pension |
UT/ISA and DFM |
Total |
|
£’Billion |
£’Billion |
£’Billion |
£’Billion |
|
|
Opening FUM |
44.12 |
119.94 |
55.95 |
220.01 |
|
Gross inflows |
1.90 |
9.06 |
4.66 |
15.62 |
|
Net investment return |
3.33 |
11.20 |
4.59 |
19.12 |
|
Regular income withdrawals and maturities |
(0.26) |
(3.63) |
- |
(3.89) |
|
Surrenders and part-surrenders |
(1.67) |
(3.26) |
(3.49) |
(8.42) |
|
Closing FUM |
47.42 |
133.31 |
61.71 |
242.44 |
|
Net inflows/(outflows) |
(0.03) |
2.17 |
1.17 |
3.31 |
|
Implied surrender rate as a percentage of average FUM |
4.9% |
3.4% |
7.9% |
4.9% |
|
Nine months ended 30 September 2025 |
Investment bond |
Pension |
UT/ISA and DFM |
Total |
|
£’Billion |
£’Billion |
£’Billion |
£’Billion |
|
|
Opening FUM |
39.18 |
101.98 |
49.05 |
190.21 |
|
Gross inflows |
2.35 |
10.24 |
3.60 |
16.19 |
|
Net investment return |
3.02 |
9.28 |
4.26 |
16.56 |
|
Regular income withdrawals and maturities |
(0.24) |
(3.13) |
- |
(3.37) |
|
Surrenders and part-surrenders |
(1.57) |
(2.84) |
(2.82) |
(7.23) |
|
Closing FUM |
42.74 |
115.53 |
54.09 |
212.36 |
|
Net inflows/(outflows) |
0.54 |
4.27 |
0.78 |
5.59 |
|
Implied surrender rate as a percentage of average FUM |
5.1% |
3.5% |
7.3% |
4.8% |
-3-
- Analysis of funds under management
The table below provides a geographical and investment-type analysis of FUM at 30 September.
|
|
30 September 2026 |
30 September 2025 |
||
|
£’Billion |
Percentage of total |
£’Billion |
Percentage of total |
|
|
North American equities |
95.5 |
40% |
81.2 |
38% |
|
Fixed income securities |
41.1 |
17% |
35.5 |
17% |
|
Asia and Pacific equities |
38.7 |
16% |
29.2 |
14% |
|
European equities |
29.4 |
12% |
29.1 |
14% |
|
UK equities |
20.3 |
8% |
18.8 |
9% |
|
Cash |
9.0 |
4% |
8.8 |
4% |
|
Other |
5.2 |
2% |
5.0 |
2% |
|
Alternative investments |
3.2 |
1% |
4.8 |
2% |
|
Total |
242.4 |
100% |
212.4 |
100% |
- EEV net asset value per share
The net asset value on the European Embedded Value basis at 30 September 2026 was approximately £22.85 per share.
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