St James's Place Regulatory News (STJ)

24 Jan 2008 07:00

St. James's Place PLC24 January 2008 PRESS RELEASE 24 JANUARY 2008 ST. JAMES'S PLACE WEALTH MANAGEMENT NEW BUSINESS FIGURES FOR 2007 New Business up 23% with total single investments of £3.4 billion St. James's Place plc ("SJP"), the wealth management group, today announces itsnew business figures for the year 2007. The Headlines for 2007 are: • New Business up 23% • New Single Investments of £2.4bn up 27% • New Pensions Single Investments of £1bn up 33% • Funds under Management at £18.2bn up 18% • Partnership numbers at 1,251 up 8% Mike Wilson, Chairman, commented: "We are delighted with the continued growth in new business which was up 23% forthe full year despite challenging market conditions. A particular highlight wastotal new single investments of £3.4bn, up 28%. "The size of the St. James's Place Partnership grew by 8% during 2007 to 1,251,the highest growth since 1999. "Despite continued market uncertainty there remains a growing demand for adviceand we are very well positioned to capitalise on this. We believe that thestrength, quality and the increase in size of our team of advisers, the St.James's Place Partnership, gives us a major competitive advantage in the UKwealth management market. "Our longer term growth target for new business remains 15-20% per annum." The detail of the announcement is attached: Enquiries:Mike Wilson, Chairman Tel: 020 7514 1907 Brunswick Tel: 020 7404 5959 Margaret Dinan Anita Scott ST. JAMES'S PLACE WEALTH MANAGEMENT NEW BUSINESS FIGURES TO 31 DECEMBER 2007 NEW BUSINESS Unaudited Unaudited 3 Months to 12 Months to 31 December 2007 31 December 2007 NEW PREMIUMS 2007 2006 Change 2007 2006 Change £'m £'m % £'m £'m %New RegularPremiums Pensions 20.6 17.5 18% 72.8 65.3 11% Protection 5.7 5.8 (2%) 20.3 22.5 (10%) 26.3 23.3 13% 93.1 87.8 6% New Single Premiums Investment 445.7 392.5 14% 1,665.4 1,320.2 26% Pensions 276.7 286.3 (3%) 995.1 748.1 33% 722.4 678.8 6% 2,660.5 2,068.3 29%Unit Trust Sales(including PEPs and ISAs) 146.8 119.6 23% 694.6 544.9 27% Unaudited Unaudited 3 Months to 12 Months to 31 December 2007 31 December 2007 NEW BUSINESS(RP + 1/10th SP) 2007 2006 Change 2007 2006 Change £'m £'m % £'m £'m % Investment 59.2 51.2 16% 236.0 186.5 27%Pensions 48.3 46.1 5% 172.3 140.1 23%Protection 5.7 5.8 (2%) 20.3 22.5 (10%) Total 113.2 103.1 10% 428.6 349.1 23% ST. JAMES'S PLACE WEALTH MANAGEMENT NEW BUSINESS FIGURES TO 31 DECEMBER 2007 Notes ST. JAMES'S PLACE WEALTH MANAGEMENT NEW BUSINESS FIGURES TO 31 DECEMBER 2007 Notes 1. New business is calculated in accordance with the standard industry measure of adding together new regular premiums and one-tenth of single premiums and unit trust sales ('APE'). 2. Sales of manufactured business on an APE basis for the twelve months were 87% of the total reported (2006: 87%). Sales of non-manufactured pensions including stakeholder by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £20.6 million regular premiums (2006: £16.8 million) and £27.4 million single premiums (2006: £46.2 million) for the twelve months to 31 December 2007. This equates to £23.3 million new business premiums (2006: £21.4 million). Sales of annuities by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £79.9 million single premiums (2006: £50.3 million) for the twelve months to 31 December 2007 and equate to £8.0 million new business premiums (2006: £5.0 million). Sales of protection business by St. James's Place Partnership through a panel of providers have been included in the reported figures under New Regular Premiums Protection. These amount to £11.7 million of new regular premiums (2006: £14.1 million) for the twelve months to 31 December 2007. This equates to £11.7 million new business premiums (2006: £14.1 million). Sales of non-manufactured single premium investment business amounting to £113.6 million (2006: £47.5 million) have been included in the figures under investments for the twelve months to 31 December 2007. This equates to £11.4 million new business premiums (2006: £4.8 million). 3. Gross fees generated from other wealth management services amounted to £33.2 million for the twelve months to 31 December 2007 (2006: £35.7 million). This information is provided by RNS The company news service from the London Stock Exchange