Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

St. James’s Place Posts Record Funds, Lifts Dividend 40%

July 29 (Bloomberg) -- St. James’s Place Plc reported a 23 percent jump in net inflows in the first half as the U.K. wealth manager and insurer increased its payout to shareholders by 40 percent.

Net inflows were 2.44 billion pounds ($4.1 billion) in the six months to June 30, the London-based company said in a statement today. Funds under management climbed to a record 47.6 billion pounds, up 19 percent, and the interim dividend rose to 8.93 pence a share.

“Growth has continued in 2014 and given this performance and our confidence about the future, the board has agreed an increase in the dividend at the top end of the range signaled earlier in the year,” Chief Executive Officer David Bellamy said in the statement. The company anticipates a “similar increase” in the full-year payout, he said.

The insurer reported a 12 percent gain in operating profit to 260.7 million pounds and a 19 percent increase in earnings from new business to 181.3 million pounds. Total single investments climbed 21 percent to 3.92 billion pounds, boosted by 27,000 new clients, the statement showed.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net Jon Menon, Mark Bentley

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.