STJ.L - St. James's Place plc

UPDATE 2-St. James's Place posts record Q3 funds under management

British wealth manager St. James's Place said funds under management hit a record high in the third quarter, as its affluent clients put more cash into their pensions. Net inflows were 2.1 billion pounds, of which 1.5 billion pounds was into pensions. From its base in the market town of Cirencester, St James's Place has grown rapidly in recent years, profiting from growing demand among retail clients for face-to-face financial advice.

Woodford struggles to build bridges with UK financial advisers

With his flagship 3.7 billion pound ($4.5 billion) fund frozen, money manager Neil Woodford has been travelling around Britain trying to convince independent financial advisers (IFAs) his firm remains a good long-term bet. Woodford, one of the UK's best-known fund managers, has given no media interviews or made any public appearances since his Equity Income Fund was suspended on June 3 after it ran out of cash to pay back investors seeking to leave. Woodford has been "fighting his corner" said one source who attended the meetings, explaining his view of the markets and receiving a positive response, though two others said they did not find his arguments convincing.

UPDATE 2-FTSE 100 suffers worst day in two months on poor earnings reports

London's FTSE 100 slipped on Wednesday from this week's 11-month high, as wealth manager St. James's Place, homebuilder Taylor Wimpey and mortgage lender Lloyds fell on the back of results, overshadowing an upbeat forecast from clothing retailer Next. The main index lost 0.8%, its biggest one-day drop in two months, as exporter stocks also weighed after the pound recovered from a 28-month low.

UPDATE 1-St. James's Place H1 inflows slow, misses on operating profit

British wealth manager St. James's Place said on Wednesday that weaker client sentiment weighed on inflows of new money in the first half of the year while costs rose, leading it to miss forecasts for operating profit.

UPDATE 1-Openwork hands $400 mln Woodford fund mandate to Jupiter

British wealth manager Openwork's Omnis Investments has picked Jupiter Asset Management to run a 317 million pound ($402.46 million) fund formerly run by Woodford Investment Management, it said on Friday. Openwork and St James's Place pulled separate mandates from Woodford totalling nearly four billion pounds shortly after the British fund manager suspended its 3.7 billion pound Equity Income fund on June 3. The Woodford suspension has provoked strong reactions from British politicians and led to a probe by regulators over the fund's exposure to unlisted and illiquid stocks.

UPDATE 2-Woodford under fresh fire as Fidelity curbs investment in second fund

British money manager Neil Woodford faced further pressure on Tuesday after retail platform Fidelity International stopped its customers from making new investments in one of his smaller funds. Woodford, one of Britain's best-known fund managers, suspended the 3.7 billion pound ($4.6 billion) LF Woodford Equity Income fund on June 3 due to a rise in redemption requests, leaving investors unsure about when they will get their money back. This has put Woodford's business under scrutiny by regulators and politicians, and led to outflows from the Income Focus fund, his other open-ended investment fund.

Suspended Woodford fund has sold around 100 mln pounds of assets

Neil Woodford has sold 97 million pounds ($123 million) of shares over the past 10 days to boost liquidity in his suspended equity income fund, a Woodford spokesman said on Thursday. Market participants have been expecting a wave of forced selling by Woodford, with some hedge funds taking out short positions against his investments. "Since suspension, Woodford has sold 97.1 million pounds of stock as he continues to reposition the Woodford Equity Income Fund portfolio," a Woodford spokesman said by email.

UPDATE 1-Assets in Woodford's smaller fund shrink-Morningstar

Assets under management in Neil Woodford's Income Focus Fund have fallen by more than 100 million pounds ($127 million) since the suspension of trading in his main fund last week, data from Morningstar showed. Investors have grown nervous about Woodford after the freezing of his flagship 3.7 billion pound Equity Income Fund on June 3. Wealth managers St James's Place and Openwork also pulled separate mandates totalling nearly 4 billion pounds from Woodford last week.

UPDATE 1-UK lawmaker calls on Woodford to waive fees in suspended fund

A senior British lawmaker joined calls on Thursday for embattled money manager Neil Woodford to stop charging fees on a fund he has stopped people from leaving. Woodford Investment Management suspended trading in its 3.7 billion pound ($4.71 billion) Equity Income Fund on Monday after an increase in client demands to take back their money.

St. James's Place pulls mandate from Woodford Investment Management

British wealth manager St. James's Place said on Wednesday it had terminated its investment mandate with Woodford Investment Management (WIM). St. James's Place said in a statement that none of its funds were part of Woodford's Equity Income Fund, suspended on Monday after an increase in client redemptions. Richard Colwell of Columbia Threadneedle and Nick Purves of RWC Partners have been handed the mandate, which includes the UK High Income Unit Trust, UK Equity (Life and Pension), Income Distribution (Life) and SJPI UK High Income funds, it said.

UPDATE 2-Watchdog examines Guernsey listings of suspended Woodford fund

Britain's financial watchdog said it was examining a decision by a frozen Woodford fund to list investments in Guernsey, as wealth manager St James's Place pulled 3.5 billion pounds ($4.45 billion) from the firm in a widening fall-out from the suspension. In a rare event, British fund manager Neil Woodford suspended trading late on Monday in his 3.7 billion pound ($4.70 billion) flagship Equity Income Fund after an increase in demand by clients to take back their money. Woodford, one of Britain's highest-profile money managers and a particular favourite of retail investors, told investors he needed to prevent them leaving in order to give him time to sell out of a number of unlisted or illiquid positions.

BUZZ-Hargreaves Lansdown slips 6% on Woodford suspension