Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

St. James's Place ups divi 40% as AUM hit £47.6bn

St. James's Place ups divi 40% as AUM hit £47.6bn

St. James's Place's saw assets under management (AUM) rise by 7% in the first half of the year to hit a record high of £47.6 billion although profits took a £7 million hit from the Financial Services Compensation Scheme (FSCS) levy.

The company's AUM are up 19% from £39.9 billion over 12 months although profits fell from £90.1 million to £82.4 million in the first half, year-on-year.The group said that due to changes in the IFRS accounting rules, the group's full-year Financial Services Compensation Scheme levy of an anticipated £6.9 million was included in its half-year numbers rather than being phased in over the year, which saw the payment rise from £2.4 million in the same period last year.

SJP's staff headcount was also on the rise with partnership numbers up 5.4% to 2,007, while its total number of advisers rose by 9% year-on-year to 2,688. The strong numbers prompted the board to increase its interim dividend by 40% to 8.93p per share.

Chief executive David Bellamy (pictured) said: 'In the first half of this year, our partners introduced over 27,000 new clients to St. James's Place who, together with our existing clients, entrusted us with over £3.9 billion of new investments, some 21% higher than for the same period last year.

'Furthermore, the long term retention of client funds under management remains consistently strong at 95%, increasing our net inflow by 23% to just over £2.4 billion, taking our funds under management to a new record high of £47.6 billion.'

He added that the transition of the £3 billion income fund mandate from Invesco Perpetual to Woodford Investment Management had been 'seamless'.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Play Dangerous daisy chains, Black Friday blues and Uber valuations

Dangerous daisy chains, Black Friday blues and Uber valuations

This week’s Investment Pulse looks at the domino effect in European banks, America’s disappointing Black Friday and how much Uber is really worth.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter