St. James's Place (STJ) Q3 2024 TU earnings summary

Executive summary

• Achieved record funds under management (FUM) of £184.40 billion at 30 September 2024, up from £158.57 billion a year earlier.

• Gross inflows for Q3 2024 reached £4.40 billion, a 20% increase compared to Q3 2023.

• Net inflows for the quarter were £0.89 billion, with a strong annualised retention rate of 94.6%.

• Continued progress on cost and efficiency initiatives and implementation of a new charging structure, targeted for H2 2025.

Financial highlights

• Q3 2024 gross inflows: £4.40 billion (Q3 2023: £3.68 billion; Q2 2024: £4.56 billion).

• Q3 2024 net inflows: £0.89 billion (Q3 2023: £0.91 billion; Q2 2024: £1.20 billion).

• Year-to-date net inflows as a percentage of opening FUM (annualised): 2.2% (Q3 2023: 3.9%).

• Net investment return for the nine months ended 30 September 2024: £13.40 billion.

Outlook and guidance

• No change to existing financial guidance; key programmes progressing as planned.

• New charging structure, including tiering for ongoing product and initial advice charges, on track for H2 2025 implementation.