St James Place delivers 'strong' quarter as net inflows soar

FTSE 250-listed wealth management company St James's Place has delivered another strong period of growth during the first three months of the year.

FTSE 250-listed wealth management company St James's Place has delivered another strong period of growth during the first three months of the year.

The group reported a 39% increase in net inflows during the period, and said funds under management (FuM) increased by £4.2bn to £39bn, up 12% in the year-to-date and 26% over the past 12 months.

Total new investments came to £1.6bn, compared to £1.3bn in the same period in 2012.

David Bellamy, Chief Executive, said: "I am very pleased to be reporting another quarter of strong growth in new investments, which combined with positive equity markets, and specifically the performance of our client funds [...].

"Net inflows for the first three months of the year are up 36% reflecting the consistency of our year on year retention record and the strong new business growth.

"These excellent results were driven by a number of factors including improved investor sentiment, the sustained low interest rate environment, the breadth and quality of our investment proposition, high levels of client satisfaction and the growth in adviser numbers.

"Whilst we face more challenging comparatives later in the year, the above factors together with the continued strong growth in the Partnership and the good momentum we have across all aspects of our business gives us confidence in our ability to deliver future growth."

The group also commented that it has seen a continuation of the improvement in retail investor sentiment that was experienced in the fourth quarter of 2012, and as such was able to continue to attract a strong level of new investments, experiencing as a result strong growth in funds under management.

Total new single investments for the quarter were £1.60bn (2012: 1.26bn), with particularly strong growth in investments, which were up 30% to £531m together with unit trust sales up 51% to £489m.

The share price rose 1.04% to 532.50p by 08:25 Thursday.

NR

Recommended

Britain’s ten most-hated shares – w/e 1 July
Stocks and shares

Britain’s ten most-hated shares – w/e 1 July

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
4 Jul 2022
Britain’s most-bought shares w/e 1 July
Stocks and shares

Britain’s most-bought shares w/e 1 July

A look at Britain’s most-bought shares in the week ending 1 July, providing an insight into how investors are thinking and where opportunities may lie…
4 Jul 2022
M&G offers a solid 10.1% yield – but future growth is uncertain
Share tips

M&G offers a solid 10.1% yield – but future growth is uncertain

Financial services group M&G has one of the highest dividend yields in the FTSE 100. But it’s a complicated company, and a tough one to analyse, says …
4 Jul 2022
How to boost your income as dividends come back in fashion
Income investing

How to boost your income as dividends come back in fashion

Dividends are back in fashion. But how do you go about building an income-generating portfolio?
4 Jul 2022

Most Popular

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks
European stockmarkets

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks

Ray Dalio’s Bridgewater hedge fund is putting its money on a collapse in European stocks. It’s likely to pay off, says Matthew Lynn.
3 Jul 2022
UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022