# St. James’s Place plc reports strong inflows & retention in Q1 - Link: https://www.directorstalkinterviews.com/st-jamess-place-plc-reports-strong-inflows-retention-in-q1/4121193595 - Published: 2025-04-24T07:49:25+01:00 - Author: Amilia Stone **St. James’s Place plc **(LON:STJ) has issued an update on new business inflows and funds under management for the three months ended 31 March 2025. | | **Q1 2025** | Q1 2024 | | | **£’Billion** | £’Billion | | Gross inflows | **5.14** | 3.97 | | Net inflows | **1.69** | 0.71 | | Closing funds under management | **188.59** | 179.04 | | ** ** | ** ** | | | Funds under management retention rate (annualised)^(1) | **95.0%** | 94.6% | | Net inflows/opening funds under management (annualised) | **3.6%** | 1.7% | _^(1) Throughout this press release our retention rate is calculated allowing for surrenders and part-surrenders. It excludes regular income withdrawals and maturities._ > **Mark FitzPatrick, St. James’s Place Chief Executive Officer, commented:** > “I am pleased to report another strong quarter for new business, once again demonstrating > the strength of our advice-led business model and the trusted relationships our > advisers build with clients. The external environment has been uncertain, but > our advisers have reassured clients and helped them remain focused on their long- > term financial goals and aspirations. Engagement levels have been high, and this > has resulted in £5.1 billion of new client investments during the quarter. Retention > of funds under management remained strong at 95.0%, supporting net inflows of  > £1.7 billion. A decline in global markets during the quarter impacted our funds > under management, which closed the period at £188.6 billion. > We continue to make substantial progress with our three key programmes of work. > We will be implementing our simple, comparable charging structure over the summer, > and our work to review historic client servicing records and implement our cost > and efficiency programme continues to move forward. > We are pleased to have built momentum in new business in recent quarters, and > we have continued to see good levels of client engagement and activity so far > in April. Looking forward, macroeconomic uncertainty and market volatility create > a challenging environment for savers and investors, but one which underlines the > value that trusted financial advice delivers to clients. Our advisers continue > to help clients navigate these conditions and stay on track to achieve their long- > term financial goals and aspirations. We have a long history of net inflows during > all phases of the economic cycle, and the quality of the Partnership and the strength > of our advice-led business model positions us well for the future.” **1.** **Funds under management** | **Three months ended 31 March 2025** | **Investment** | **Pension** | **UT/ISA and DFM** | **Total** | | **£’Billion** | **£’Billion** | **£’Billion** | **£’Billion** | | Opening FUM | 39.18  | 101.98  | 49.05  | 190.21  | | Gross inflows | 0.74  | 3.14  | 1.26  | 5.14  | | Net investment return | (0.53) | (1.96) | (0.82) | (3.31) | | Regular income withdrawals and maturities | (0.08) | (0.99) | –  | (1.07) | | Surrenders and part-surrenders | (0.53) | (0.89) | (0.96) | (2.38) | | **Closing FUM** | **38.78**  | **101.28**  | **48.53**  | **188.59**  | | **Net inflows/(outflows)** | **0.13**  | **1.26**  | **0.30**  | **1.69**  | | **Implied surrender rate as a percentage of average FUM** | **5.4%** | **3.5%** | **7.9%** | **5.0%** | | **Three months ended 31 March 2024** | **Investment** | **Pension** | **UT/ISA and DFM** | **Total** | | **£’Billion** | **£’Billion** | **£’Billion** | **£’Billion** | | Opening FUM | 35.99  | 87.32  | 44.89  | 168.20  | | Gross inflows | 0.47  | 2.61  | 0.89  | 3.97  | | Net investment return | 1.92  | 5.55  | 2.66  | 10.13  | | Regular income withdrawals and maturities | (0.11) | (0.82) | –  | (0.93) | | Surrenders and part-surrenders | (0.55) | (0.72) | (1.06) | (2.33) | | **Closing FUM** | **37.72**  | **93.94**  | **47.38**  | **179.04**  | | **Net inflows/(outflows)** | **(0.19)** | **1.07**  | **(0.17)** | **0.71**  | | **Implied surrender rate as a percentage of average FUM** | **6.0****%** | **3.****2%** | **9.2%** | **5.4%** | -3- **2. Analysis of funds under management** The table below provides a geographical and investment-type analysis of FUM at 31 March. | | **31 March 2025** | 31 March 2024 | | **£’Billion** | **Percentage****of total** | £’Billion | Percentageof total | | North American equities | **71.3** | **38%** | 64.9 | 36% | | Fixed income securities | **32.0** | **17%** | 28.1 | 16% | | European equities | **25.7** | **13%** | 25.3 | 14% | | Asia and Pacific equities | **23.9** | **12%** | 21.8 | 12% | | UK equities | **16.6** | **9%** | 15.7 | 9% | | Cash | **7.4** | **4%** | 7.0 | 4% | | Alternative investments | **5.6** | **3%** | 9.9 | 5% | | Other | **5.1** | **3%** | 4.6 | 3% | | Property | **1.0** | **1%** | 1.7 | 1% | | **Total** | **188.6** | **100%** | 179.0 | 100% | **3.** **EEV net asset value per share** The net asset value on the European Embedded Value basis at 31 March 2025 was approximately £16.28 per share (cum div) and approximately £16.16 per share after the payment of the proposed final dividend on 23 May 2025. 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