Last checked at 23 Jun 2020 07:00
ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111
PRESS RELEASE
23 June 2020
ST. JAMES'S PLACE WEALTH MANAGEMENT
FLOWS REMAIN ROBUST IN A CHALLENGING ENVIRONMENT
St. James's Place plc ("SJP"), the wealth management group, today issues an update on new business inflows and funds under management for the month to 31 May 2020.
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| 2020 | 2019 |
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| £'Billion | £'Billion |
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Gross inflows for May |
| 0.98 | 1.24 |
Net inflows for May |
| 0.67 | 0.73 |
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|
|
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Gross inflows for the five months to 31 May |
| 6.19 | 6.20 |
Net inflows for the five months to 31 May |
| 3.85 | 3.71 |
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|
|
|
Closing funds under management |
| 112.58 | 105.83 |
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Year-to-date funds under management retention rate (annualised) |
| 96.4% | 95.9% |
Year-to-date net inflows/opening funds under management (annualised) |
| 7.9% | 9.3% |
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Andrew Croft, Chief Executive, commented:
"Despite the continuing challenges presented by COVID-19, gross flows in May were robust. Retention of existing client investments remains particularly strong, providing for a net inflow for the month of £0.67 billion. Funds under management benefitted from both these positive net inflows and the continuing recovery of world stock markets, to end the month at £112.6 billion.
We remain encouraged by the inflows we are continuing to experience and expect June gross inflows to be similar to May, though the short to medium-term impact of COVID-19 and economic volatility on our flows remains uncertain."
Enquiries:
Tony Dunk, Director - Investor Relations Hugh Taylor, Director - Investor Relations | Tel: 07831 426216 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 |