St. James's Place (STJ) Q1 2025 TU earnings summary

Executive summary

• Achieved £5.1 billion in gross inflows and £1.7 billion in net inflows for Q1 2025, both up year-over-year.

• Funds under management (FUM) closed at £188.6 billion, up from £179.0 billion in Q1 2024.

• Maintained a strong FUM retention rate of 95.0% despite market volatility.

• Continued progress on charging structure simplification, client servicing review, and cost efficiency programs.

Financial highlights

• Gross inflows increased to £5.14 billion from £3.97 billion in Q1 2024.

• Net inflows rose to £1.69 billion from £0.71 billion year-over-year.

• FUM at period end reached £188.59 billion, up from £179.04 billion.

• Net investment return was negative £3.31 billion, reflecting market declines.

• Implied surrender rate improved to 5.0% from 5.4% year-over-year.

Outlook and guidance

• High client engagement and activity levels continued into April.

• Macroeconomic uncertainty and market volatility expected to persist, but advice-led model seen as resilient.

• Confident in ability to generate net inflows across economic cycles.