- Title:
New business update - May 2020 - Time:
07:00:02 - Date:
23 Jun 2020 - Category:
Trading updates - ID:
6964Q
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.
|
|
|
2020 |
2019 |
|
|
|
£'Billion |
£'Billion |
|
|
|
|
|
| Gross inflows for May |
|
0.98 |
1.24 |
| Net inflows for May |
|
0.67 |
0.73 |
|
|
|
|
|
| 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 |
|
|
|
|
|
| Closing funds under management |
|
112.58 |
105.83 |
|
|
|
|
|
| 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% |
|
|
|
|
|
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: [email protected] |
New business update - May 202007:00:0223 Jun 2020Trading updates6964Q