Record Fund Flows for SJP

by | Jul 27, 2016

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St James Place has notched up record fund flows for the six months to 30 June, 2016.

At the halfway stage, Group funds under management now stand £65.6bn (2015: £55.5bn).

The Group has increased its gross inflow of funds under management to £5.3 bn (£4.4bn) and continued a strong retention of client funds. Net inflow of funds under management was £3.1bn (£2.7bn).

Partnership numbers were up at 2,320, up 2.5% since the start of the year, and total number of advisers is now 3,259, up 4.7% since start of the year.

The interim results announcement also revealed that new business profits were £228.9m (£205.9m); operating profit was £284m (£265.3m); and, net asset value per share was 791.9 pence (683.7 pence).

Underlying post tax cash result is £94.4 million (£84.9m) and the interim dividend is 12.33 pence per share (10.72 pence per share).

David Bellamy

David Bellamy

Chief Executive David Bellamy said: “Despite continued volatility in world stock markets and political uncertainty across Europe, I am pleased to once again be reporting a strong first half performance and continued positive momentum in our business.

“Bearing testament to the reassuring consistency and resilience of our business, I am particularly pleased that we achieved record gross and net inflows in the second quarter, up 23% and 25% respectively. That, together with our usual high retention results and good performance of our client funds, has increased our funds under management by £10 billion in the last 12 months.

“Whilst the UK’s decision to leave the EU has created a period of economic uncertainty in the UK, the challenges and responsibilities that many people face when considering how to manage their wealth and the ever changing tax considerations, remain. We believe we are extremely well placed to meet this increasing need for advice and remain focused on growing our number of qualified advisers and providing them with all the tools and support to deliver high quality outcomes for clients.

“Consequently, without being complacent about the possible consequences of Brexit, the proven strength in our business model and ongoing momentum gives us confidence in our ability to deliver continued growth in line with our objectives. Indeed, I can report that new fund flows since the Referendum remain in line with those medium term objectives.

“Given the continued strong business performance, the Board has declared a 15% increase in the interim dividend to 12.33 pence per share. We intend to continue to grow the dividend in line with the underlying performance of the business, as previously stated.”

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