St James Place : Fourth quarter new business inflows and funds under management update

Record flows in final quarter drive funds under management to £75 billion.

St. James's Place plc ('SJP'), the wealth management group, today issues an update on new business inflows and funds under management for the twelve months ended 31 December 2016.

• Gross inflow of funds at £3.3 billion was up 30% in the quarter, taking the total for the year to £11.4 billion, up 23%
• Continued strong retention of client funds - 95%
• Net inflow of funds of £2.1 billion was up 26% in the quarter and 17% for the year at £6.8 billion
• Group funds under management of £75.3 billion up 28% for the year
• We now have 3,415 qualified advisers, up 10% for the year

David Bellamy, Chief Executive, commented:

'I am delighted to announce that the momentum we reported in October continued into the final quarter. We achieved record flows which, together with characteristically high retention of clients and the strong investment returns they enjoyed, lifted funds under management to £75.3 billion. Alongside these fund flows, we've continued to expand our capacity to attract new clients and build upon our existing client relationships, both in the UK and in Asia, and this bodes well for our future growth.

These results and the continued resilience of our business reinforce our confidence in our strategy and the outstanding job our advisers do in managing their clients' financial affairs and the benefits of our distinctive investment management approach.

Despite challenging market conditions and some surprising political events, 2016 has been another record-breaking year for St. James's Place. We've achieved strong growth across all the key aspects of the business and I believe that we are better placed today for the opportunities that lie ahead than ever before.'

Enquiries:

David Bellamy, Chief Executive Officer	Tel: [phone]
Andrew Croft, Chief Financial Officer	Tel: [phone]
Tony Dunk, Investor Relations Director	Tel: [phone]
Bell Pottinger John Sunnucks & Ben Woodford	Tel: [phone] [e-mail]

View the full press release (PDF) to find out more.

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