2025 New Business Inflows & Funds Under Management

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PRESS RELEASE

29 January 2026

 ST. JAMES'S PLACE DELIVERS A STRONG YEAR OF NEW BUSINESS AND INVESTMENT RETURNS

St. James's Place plc ('SJP') today issues an update on new business inflows and funds under management for the year ended 31 December 2025.

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:

"I am pleased to report a strong year for SJP. Our advisers attracted £21.9 billion of new business, up 19% year-on-year. Combined with high retention of 94.9%, we achieved net inflows of £6.2 billion, up 42% year-on-year. We also delivered strong investment performance for the benefit of our clients, with returns representing 12% of opening funds under management. Together with net inflows, this meant our FUM closed the year at £220.0 billion, a record high and up 16% during the year.

The final quarter was marked by protracted speculation in the lead up to the Autumn Budget at the end of November, and our new business performance reflected clients' desire for trusted advice amid this period of heightened uncertainty. Client-adviser engagement was unseasonally high in the third quarter, linked to the successful implementation of our new charging structure in late summer, resulting in lower levels of activity early in the final quarter, as expected.

The final quarter also saw elevated short-term outflows, as many clients accelerated tax-free cash (TFC) withdrawals from their pensions in anticipation of reduced TFC allowances. As we exited the quarter, we were pleased to see both outflow rates and client engagement normalise, and this has continued into the early part of 2026. 

2025 was a year of progress for SJP, where we strengthened our business for the future whilst growing our client numbers, increasing our inflows, delivering good investment returns and achieving record FUM. As anticipated, clients and advisers successfully adapted to the implementation of our simple, comparable charging structure. We also made good progress with our review of historic ongoing service evidence and our cost and efficiency programme. We enter 2026 with confidence and the changes we have made, combined with our broader strategy to strengthen and grow SJP, leave us well placed to extend our long-term leadership in a highly attractive marketplace."

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Enquiries:

Contents

1.     Funds under management

2.     Analysis of funds under management

1.     Funds under management

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2.     Analysis of funds under management

The table below provides a geographical and investment-type analysis of FUM at 31 December.