AI assistant
St. James's Place PLC — Earnings Release 2020
Jun 23, 2020
5242_er_2020-06-23_8b8a6440-179d-44ba-b3a3-87c8d90e8692.html
Earnings Release
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information
RNS Number : 6964Q
St. James's Place PLC
23 June 2020
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] |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
END
TSTKZGZVDZNGGZM