For the complete transcript of the earnings call, please refer to the full earnings call transcript. Improved FUM retention rate to 95.4%, above the long-term ambition of 95%. Adjusted IFRS profit before tax of 278.4 million, exceeding consensus expectations of 194 million.

St. James's Place (LON:STJ) said it delivered positive net inflows, record funds under management and continued progress on its strategic initiatives during the first half of 2026, while executives outlined plans to increase adviser recruitment and productivity from 2027. Chief Executive Mark FitzP

Britain’s biggest wealth manager has been forced to refund hundreds of clients who were charged twice.

STORY: Long-term British borrowing costs surged to their highest in nearly 30 years on Tuesday... sterling slumped and shares fell as investors brace for a potential change of leadership that could weaken fiscal discipline. Prime Minister Keir Starmer is under mounting pressure to resign. It's after his governing Labour Party suffered big losses in last week's local elections. But he remained defiant on Tuesday at a cabinet meeting, telling ministers he would "get on with governing". Almost 80 of his lawmakers have called on him to go. Economist Hetal Mehta of St James's Place told Reuters markets are nervous that any alternative leader will seek to borrow more, and that would likely push the cost of the debt up further. "So that level of uncertainty really feeds into the idea of we don't know what the fiscal situation will be. There are obviously pressures for any government to spend more to boost growth, but then you have to balance that with the fiscal rules. And so that uncertainty demands a bit of a risk premium, and that's why we see guilt yields rising currently." The benchmark 10-year gilt yield rose to 5.13%, the highest since 2008. That was around the level hit in March on concerns around the inflationary impact of the Iran war. "So there are a few different things, but certainly the... Impact of the Iran conflict, how that will feed into inflation, what that might mean for the Bank of England where inflation expectations are actually still elevated, all feeds into this idea of higher interest rates and therefore higher borrowing costs." 30-year yields, sensitive to fiscal risks, touched their highest since 1998 at 5.81%, rising as much as 14 basis points. The pound also dropped by half a percentage point. And stock markets also came under pressure with the FTSE 100 index down nearly 1%.

St. James's Place now sits on a slightly higher analyst fair value estimate of about £16.47 per share, alongside fresh Street price targets that range from cuts down to 1,300 GBp to more optimistic moves up to 2,000 GBp. Those shifts reflect a very mixed read on the risk and reward, with some analysts trimming expectations while others are lifting targets by 50 GBp to 150 GBp and upgrading to Buy as they reassess recent share price moves. Read on to see what is driving this split narrative...

Acadian Asset Management (NYSE:AAMI) reported what management called “exceptional” first-quarter 2026 results, driven by record assets under management, strong net inflows, and sharply higher profitability as management fees climbed on a materially larger fee base. Record AUM and strong profitabili