Interim Management Statement Q3
2009年11月3日 - 4:00PM
ＲＮＳを含む英国規制内ニュース （英語）
TIDMSTJ
RNS Number : 7987B
St. James's Place PLC
03 November 2009
-1-
ST. JAMES'S PLACE plc
27 St. James's Place, London SW1A 1NR
Telephone 020 7493 8111 Facsimile 020 7493 2382
PRESS RELEASE
3 November 2009
ST. JAMES'S PLACE WEALTH MANAGEMENT
INTERIM MANAGEMENT STATEMENT
FOR THREE MONTHS TO 30 SEPTEMBER 2009
RECORD THIRD QUARTER NEW BUSINESS
AND FUNDS UNDER MANAGEMENT
St. James's Place plc ("SJP"), the wealth management group, today issues its
interim management statement for the three months ended 30 September 2009.
Highlights for the three months are:
New Business
* Total new business on an APE basis of GBP104.6 million (2008: GBP101.9 million),
up 3%
* Total single investments of GBP834.8 million (2008: GBP743.8 million), up 12%
* Manufactured new business on an APE basis of GBP95.7 million (2008: GBP85.7
million), up 12%
* Our own manufactured business represents 91% of new business
Funds Under Management
* Net inflow of funds under management of GBP600 million (2008: GBP500 million)
* Continue to retain over 95% of existing clients' funds
* Funds under management of GBP20.3 billion, up GBP3.4 billion over the three
months
David Bellamy, Chief Executive, commented:
"We are very pleased that we have returned to growth in the third quarter and in
particular with the strong performance in our manufactured business and the
growth in investment business.
"Funds under management have exceeded GBP20 billion for the first time, which is
a testament to the strength of the relationship between our advisers and their
clients, as well as our approach to investment management.
"The strong recovery in the world stock markets and improving investor
confidence, together with the continuing growth in the Partnership underpin our
longer term growth target."
The details of the announcement are attached.
Enquiries:
+---------------------------------------------------+------+-----------------+
| David Bellamy, Chief Executive | Tel: | 020 7514 1963 |
+---------------------------------------------------+------+-----------------+
| Andrew Croft, Group Finance Director | Tel: | 020 7514 1963 |
+---------------------------------------------------+------+-----------------+
| Tulchan Communications Group Ltd | Tel: | 020 7353 4200 |
| John Sunnucks/Mal Patel | | |
+---------------------------------------------------+------+-----------------+
-2-
ST. JAMES'S PLACE WEALTH MANAGEMENT
NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009
TOTAL LONG TERM SAVINGS
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | Unaudited | | Unaudited |
| | 3 Months to | | 9 Months to |
| | 30 September 2009 | | 30 September 2009 |
+---------------------+-------------------------------------+--+-----------------------------------------+
| New PREMIUMS | | 2009 | | 2008 | | Change | | | | 2009 | | 2008 | | Change | |
| | | GBP'm | | GBP'm | | % | | | | GBP'm | | GBP'm | | % | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| New Regular | | | | | | | | | | | | | | | |
| Premiums | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| - Pensions | | 15.8 | | 22.8 | | (31%) | | | | 56.0 | | 68.0 | | (18%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| - Protection | | 5.3 | | 4.7 | | 13% | | | | 14.2 | | 14.1 | | 1% | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | 21.1 | | 27.5 | | (23%) | | | | 70.2 | | 82.1 | | (14%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| New Single Premiums | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| - Investment | | 353.5 | | 318.6 | | 11% | | | | 934.1 | | 1,050.2 | | (11%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| - Pensions | | 280.1 | | 282.1 | | (1%) | | | | 829.9 | | 803.3 | | 3% | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | 633.6 | | 600.7 | | 5% | | | | 1,764.0 | | 1,853.5 | | (5%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| Unit Trust Sales | | 201.2 | | 143.1 | | 41% | | | | 609.5 | | 551.4 | | 11% | |
| (including PEPs and | | | | | | | | | | | | | | | |
| ISAs) | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | |
+---------------------+----------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | |
+---------------------+----------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | Unaudited | | Unaudited |
| | 3 Months to | | 9 Months to |
| | 30 September 2009 | | 30 September 2009 |
+---------------------+-------------------------------------+--+-----------------------------------------+
| | | 2009 | | 2008 | | Change | | | | 2009 | | 2008 | | Change | |
| | | GBP'm | | GBP'm | | % | | | | GBP'm | | GBP'm | | % | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| NEW BUSINESS | | | | | | | | | | | | | | | |
| (RP + 1/10TH SP) | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| Investment | | 55.5 | | 46.2 | | 20% | | | | 154.4 | | 160.2 | | (4%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| Pensions | | 43.8 | | 51.0 | | (14%) | | | | 139.0 | | 148.3 | | (6%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| Protection | | 5.3 | | 4.7 | | 13% | | | | 14.2 | | 14.1 | | 1% | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| Total | | 104.6 | | 101.9 | | 3% | | | | 307.6 | | 322.6 | | (5%) | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+--+--+---------+--+---------+---+--------+--+
-3-
ST. JAMES'S PLACE WEALTH MANAGEMENT
NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009
MANUFACTURED LONG TERM SAVINGS
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | Unaudited | | Unaudited |
| | 3 Months to | | 9 Months to |
| | 30 September 2009 | | 30 September 2009 |
+---------------------+-------------------------------------+---+-----------------------------------------+
| New PREMIUMS | | 2009 | | 2008 | | Change | | | | 2009 | | 2008 | | Change | |
| | | GBP'm | | GBP'm | | % | | | | GBP'm | | GBP'm | | % | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| New Regular | | | | | | | | | | | | | | | |
| Premiums | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| - Pensions | | 14.4 | | 15.2 | | (5%) | | | | 46.7 | | 44.0 | | 6% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| - Protection | | 1.3 | | 1.6 | | (19%) | | | | 3.5 | | 5.3 | | (34%) | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | 15.7 | | 16.8 | | (7%) | | | | 50.2 | | 49.3 | | 2% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| New Single Premiums | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| - Investment | | 345.6 | | 306.5 | | 13% | | | | 920.2 | | 964.9 | | (5%) | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| - Pensions | | 252.5 | | 239.1 | | 6% | | | | 741.8 | | 705.5 | | 5% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | 598.1 | | 545.6 | | 10% | | | | 1,662.0 | | 1,670.4 | | (1%) | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| Unit Trust Sales | | 201.2 | | 143.1 | | 41% | | | | 609.5 | | 551.4 | | 11% | |
| (including PEPs and | | | | | | | | | | | | | | | |
| ISAs) | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | |
+---------------------+----------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | |
+---------------------+----------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | Unaudited | | Unaudited |
| | 3 Months to | | 9 Months to |
| | 30 September 2009 | | 30 September 2009 |
+---------------------+-------------------------------------+---+-----------------------------------------+
| | | 2009 | | 2008 | | Change | | | | 2009 | | 2008 | | Change | |
| | | GBP'm | | GBP'm | | % | | | | GBP'm | | GBP'm | | % | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| NEW BUSINESS | | | | | | | | | | | | | | | |
| (RP + 1/10TH SP) | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| Investment | | 54.7 | | 45.0 | | 22% | | | | 153.0 | | 151.6 | | 1% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| Pensions | | 39.7 | | 39.1 | | 2% | | | | 120.9 | | 114.6 | | 5% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| Protection | | 1.3 | | 1.6 | | (19%) | | | | 3.5 | | 5.3 | | (34%) | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| Total | | 95.7 | | 85.7 | | 12% | | | | 277.4 | | 271.5 | | 2% | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
| % of total new | | 91% | | 84% | | | | | | 90% | | 84% | | | |
| business | | | | | | | | | | | | | | | |
+---------------------+--+-------+--+--------+--+--------+--+---+--+---------+--+---------+---+--------+--+
-4-
ST. JAMES'S PLACE WEALTH MANAGEMENT
NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009
NON MANUFACTURED LONG TERM SAVINGS
* Investment premiums of GBP14.0 million (2008: GBP85.2 million), amounting to
GBP1.4 million (2008: GBP8.5 million) on an APE basis.
* Pension single premiums of GBP88.1 million (2008: GBP97.8 million) and regular
premiums of GBP9.3 million (2008: GBP24.1 million), amounting to GBP18.1 million
(2008: GBP33.9 million) on an APE basis.
* Protection business of GBP10.7 million regular premiums (2008: GBP8.7 million).
* Total new business, on an APE basis, of GBP30.2 million (2008: GBP51.1 million).
-5-
Commentary
During the third quarter of 2009 we have seen a strong recovery in world stock
markets and improving economic conditions. This has led to improving investor
sentiment and we are very pleased that our new business returned to growth
during the quarter.
The level of new business combined with the continuing excellent retention of
existing business resulted in a strong net inflow of funds under management for
the quarter.
Review of new business
Total new business for the three months, on the APE measure, was up 3% at
GBP104.6 million whilst the manufactured business was up 12% to GBP95.7 million.
The combined single investment and pension business, including unit trusts,
increased by 12% during the third quarter to GBP834.8 million. There was
particularly strong growth in investment business as clients returned to the
market, with unit trust business up 41%.
Total regular premium business declined during the quarter principally due to
the inclusion of a large stakeholder scheme within the comparative figure for
last year. Finally protection business, which represents a small part of our
business, was up 13% during the quarter and 1% for the nine months.
Funds under management
The recovery in stock markets together with positive fund flows has led to funds
under management at 30 September of GBP20.3 billion - up GBP4.0 billion (25%)
since the start of the year and GBP3.4 billion in the last three months.
We are continuing to develop our range of funds and have recently strengthened
our investment team with the appointment today of a Chief Investment Officer to
lead the further development of our investment business and growth in funds
under management. We have also announced the appointment of two new members of
our Investment Committee. The Committee, together with advice from independent
consultants, Stamford Associates, is responsible for the selection and
monitoring of managers.
The table below provides an analysis of the movement in funds under management
for the nine months to the end of September.
+---------------------------------+------+------------------+-----+------------------+
| | | Unaudited | | Unaudited |
| | | 9 Months to | | 9 Months to |
| | | 30 September | | 30 September |
| | | 2009 | | 2008 |
+---------------------------------+------+------------------+-----+------------------+
| | | GBP'bn | | GBP'bn |
+---------------------------------+------+------------------+-----+------------------+
| | | | | |
+---------------------------------+------+------------------+-----+------------------+
| Opening funds under management | | 16.3 | | 18.2 |
+---------------------------------+------+------------------+-----+------------------+
| New money invested | | 2.4 | | 2.3 |
+---------------------------------+------+------------------+-----+------------------+
| Net investment return | | 2.4 | | (3.0) |
+---------------------------------+------+------------------+-----+------------------+
| | | 21.1 | | 17.5 |
+---------------------------------+------+------------------+-----+------------------+
| Regular income withdrawals & | | (0.3) | | (0.3) |
| maturities | | | | |
+---------------------------------+------+------------------+-----+------------------+
| Surrenders & part surrenders | | (0.5) | | (0.7) |
+---------------------------------+------+------------------+-----+------------------+
| | | | | |
+---------------------------------+------+------------------+-----+------------------+
| Closing funds under management | | 20.3 | | 16.5 |
+---------------------------------+------+------------------+-----+------------------+
| | | | | |
+---------------------------------+------+------------------+-----+------------------+
| Annualised surrender rate as a | | 3.9% | | 5.2% |
| % of average funds under | | | | |
| management | | | | |
+---------------------------------+------+------------------+-----+------------------+
| | | | | |
+---------------------------------+------+------------------+-----+------------------+
-6-
The rise in stock markets during the third quarter has resulted in a significant
positive investment variance in the three months. The net asset value per share
at 30 September 2009 on a European Embedded Value basis, was around 270 pence.
Capital
There have been no material changes to solvency capital during the third
quarter. The investment policy for non unit-linked assets remains on a prudent
basis, with no exposure to equity investments; non linked liabilities are
matched by government backed gilts and bonds, and surplus assets are invested in
AAA rated money market funds. This policy continues to immunise the capital base
from stock market volatility and corporate bond spreads.
Outlook
The strong recovery in the world stock markets and improving economic conditions
are encouraging for the outlook for our business.
These improving conditions, the strength and growth in the St. James's Place
Partnership, and the increasing need for quality advice underpin our longer term
growth target.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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