29th Oct 2026 11:51
St James's Place PLC - Cirencester, Gloucestershire-based wealth manager - Suffers sharp decline in third-quarter net inflows, though funds under management still reach a record high. Net inflows fall by two thirds to GBP570 million in the three months to September 30 from GBP1.76 billion a year earlier, while gross inflows decline to GBP5.15 billion from GBP5.70 billion. However, closing funds under management rise 14% to a record GBP242.44 billion from GBP212.36 billion, supported by positive investment returns and continued net inflows. The annualised year-to-date client retention rate remains broadly stable at 95.1%, compared with 95.2% a year earlier, while annualised net inflows as a proportion of opening funds under management decline to 2.0% from 3.9%.
Chief Executive Mark FitzPatrick attributes the weaker inflows to a demanding comparative period in 2025, when activity was boosted by the introduction of the company's new charging structure, alongside market volatility and uncertainty ahead of the UK autumn budget. He says St James's Place continues to invest in technology and artificial intelligence to improve productivity and will provide further details of its next strategic phase, 'amplify', alongside full-year results in February.
Current stock price: 1,040.00 pence, down 6.6% in London on Thursday
12-month change: down 22%
By Tom Waite, Alliance News editor
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