St James's Place reports mixed Q1 results amid market volatility
St James's Place saw a sharp decline in its share price during early morning trading on Wednesday, as Iran war volatility damaged inflows and funds under management.
The FTSE 100 wealth manager saw shares tumble 5.2 per cent to 1,187p, with shares down 14.8 per cent this year to date.
The group reported a 9.4 per cent drop in net inflows in its first quarter update, falling to £1.5bn from £1.6bn the prior year.
The heightened geopolitical uncertainty caused by the Middle East conflict also impacted funds under management (FUM), which closed the period at £216.9bn, down from record highs of £220bn at the end of 2025.
Declines across the board
Declines were recorded across all business arms over the course of the quarter, with its investment arm falling from £44.1bn to £43.3bn.
Meanwhile its pension business saw a slight decline from £119.9bn to £118.3bn, while discretionary fund management also tumbled slightly.
But closing FUM was higher than the same period last year, jumping 15 per cent from £188.5bn.
Funds under management retention rate also remained broad at 95.3 per cent, a three percentage point increase.
Gross inflows jumped from £5.1bn to £5.2bn.
Regional performance
Regional FUM also shifted over the quarter, with North American equities accounting for 36 per cent of the total, down from 38 per cent.
But total FUM rose from £71.3bn the prior year to £78.6bn in the region.
European equities continued to account for 14 per cent, but total increased from £25.7bn to £30.8bn, while the UK also continued to make up nine per cent of the total.
Mark FitzPatrick, chief executive officer of St James's Place, noted that despite the damage caused by ongoing volatility, the group was focused on capturing "significant long-term market opportunity".
But analysts remained bullish on the group, with Panmure Liberum noting that "simplifying its model and charging structure" allowed retention levels to hold and that its "advice led business should create stickier flows".
