Evolution of New Business and Funds Under Management Reporting
“St. James’s Place plc has historically reported its new business using both the wealth management measure of fund flows and the life assurance measure of Annual Premium Equivalent (APE). As the APE measure no longer reflects the nature of our wealth management business nor accurately reflects the shareholder value added, we have decided to simplify our new business reporting going forwards.
From the 2015 half year results, which will be published on 29 July 2015, the reported new business will reflect the gross and net inflows into the Group’s funds under management. This measure will be further analysed between life, pension and unit trust/ISA business. This approach will more closely align reported figures with our business model and with that reported by other wealth management companies.
Shareholders can find historic data on this new basis of reporting via our Investor Relations website at http://www1.sjp.co.uk/investor-relations/results-archive/2015.”
|Andrew Croft; Chief Financial Officer||Tel 020 7514 1963|
|Tony Dunk; Investor Relations Director|