St James’s Place (SJP), a wealth manager based in the UK, has reported gross inflows of funds under management of £7.4bn at the end of the H1 2019.

This is a decrease of 7% from the previous year figure of £7.9bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The group’s net inflow of funds declined to £4.4bn from £5.2bn.

Group funds under management totalled £109.3bn as of 30 June 2019, up 14% from £96.6bn a year ago.

Operating profit on a European Embedded Value basis dropped 5% to £465.7m from £489.6m.

IFRS profit before tax plunged 31% year-on-year to £57.3m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Underlying IFRS profit before shareholder tax decreased to £81.5m from £115.4m.

St James’s Place CEO Andrew Croft said: “Whilst our new business continues to perform well compared to others in the wealth management sector, we are not immune to the challenging external factors that prevailed during H1.

“Consequently, gross new inflows for the period, at £7.4 billion, were some 7% lower than the first half of 2018, and we are encouraged that gross flows improved in the second quarter versus the first quarter.

“Importantly, the continued strong retention of existing client funds meant that we attracted £4.4 billion of net inflows for the period, equating to 4.6% of opening funds under management, 9.2% on an annualised basis.”