New investments up 13 per cent year-on-year at St James' Place

FTSE 250-listed wealth management company St James' Place attracted 5.87bn pounds of total single investments in 2012, representing an increase of 13 per cent year-on-year, according to a business update issued by the group on Thursday morning.

FTSE 250-listed wealth management company St James' Place attracted 5.87bn pounds of total single investments in 2012, representing an increase of 13 per cent year-on-year, according to a business update issued by the group on Thursday morning.

Total new business on an annual premium equivalent (APE) basis rose 16% year-on-year to £743.3m and final quarter new business on an APE basis was up 46% to £223.8m.

Meanwhile, funds under management at the company rose 22% over 2012 to £34.8bn and partnership numbers were 8.4% to 1,788.

David Bellamy, Chief Executive Officer of St James' place, commented: "I am delighted to report a very strong final quarter and another record year of new business for St. James's Place. Whilst market conditions remained challenging for much of 2012, we were pleased to attract £5.9bn of new investments during the year.

This, together with the continued 95% retention of existing client funds and positive investment returns, saw assets under management rise to an all-time high of £34.8bn which attests to the strength of our Partnership-led business and the quality of our investment proposition for clients."

He added: "We enter the year well positioned for the new RDR [Retail distribution Review] environment, with over 2,000 people fully qualified to the new diploma level. Recruitment activity remains buoyant and we have good momentum across all aspects of the business as we continue to develop our investment proposition and enhance the service we provide to our clients."

MF

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
How to stop recurring subscriptions becoming a drain on your money
Personal finance

How to stop recurring subscriptions becoming a drain on your money

Tracking and pruning subscriptions isn’t as easy as it sounds. Here's how to take charge.
14 Sep 2021