ST. JAMES'S PLACE PLC DocuSign Envelope ID: A113FF51-8501-4F16-B6E4-F0C6048AF193
Registered number: 00947644
ST. JAMES'S PLACE UNIT TRUST GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
DocuSign Envelope ID: A113FF51-8501-4F16-B6E4-F0C6048AF193
ST. JAMES'S PLACE UNIT TRUST GROUP LIMITED
COMPANY INFORMATION
Directors
Company secretary
Registered number
Registered office
Independent auditors
DocuSign Envelope ID: A113FF51-8501-4F16-B6E4-F0C6048AF193
ST. JAMES'S PLACE UNIT TRUST GROUP LIMITED | ||
CONTENTS | ||
Page(s) | ||
Strategic Report | 1 | - 9 |
Directors' Report | 10 | - 11 |
Directors' Responsibilities Statement | 12 | |
Independent Auditors' Report | 13 | - 15 |
Statement of Comprehensive Income | 16 | |
Statement of Financial Position | 17 | |
Statement of Changes in Equity | 18 | |
Notes to the Financial Statements | 19 | - 27 |
DocuSign Envelope ID: A113FF51-8501-4F16-B6E4-F0C6048AF193
ST. JAMES'S PLACE UNIT TRUST GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
INTRODUCTION
St. James's Place Unit Trust Group Limited (the "Company") is a wholly-owned subsidiary of St. James's Place Wealth Management Group Limited. The Company is authorised and regulated by the Financial Conduct Authority (FCA) to transact Unit Trusts in the United Kingdom.
The Company is a private limited company registered in England.
Group Overview
St. James's Place is an award-winning wealth management group and a FTSE 100 business with a track record of strong growth. An extract of the group structure is shown below.
Face-to-face advice is core to the St. James's Place Group's (the "Group" or "St. James's Place") business model. This is delivered through the Group's dedicated distribution firm, St. James's Place Wealth Management plc, which manages the St. James's Place Partnership, and which is focused on building and supporting long-
term relationships with our clients.
Financial advice is complemented and supported by our compelling investment proposition (the Investment Management Approach - "IMA"). The IMA offers a unique approach enabling investment management of underlying assets to be contracted out to a range of investment management firms, carefully selected by our
independent committee of experts, from the global population of fund managers.
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DocuSign Envelope ID: A113FF51-8501-4F16-B6E4-F0C6048AF193
ST. JAMES'S PLACE UNIT TRUST GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
INTRODUCTION (continued)
In order to be able to provide the appropriate investment solution for each client's particular circumstances and needs, the IMA is made available through a variety of UK investment product solutions. The principal products manufactured by Group companies, and which are, in general, made available through the St. James's Place Partnership, are:
Company | Product |
St. James's Place UK plc | UK-basedunit-linked savings |
Unit-linked pension savings | |
Unit-linked drawdown | |
St. James's Place Investment Administration Limited | Unit Trusts |
Individual Savings Accounts ("ISAs") | |
St. James's Place International plc | Offshore unit-linked savings |
In order to allow the IMA to be delivered consistently through all product wrappers, the majority of the unit-linked insurance investment ranges are facilitated through cross-investment into a core range of St. James's Place Unit Trusts (managed by St. James's Place Unit Trust Group Limited), which are the same Unit Trusts made available directly and through an ISA by St. James's Place Investment Administration Limited.
The Company collects an Annual Management Charge ("AMC") from the range of Unit Trusts that it manages, from which it pays a share to St. James's Place Investment Administration Limited as remuneration for client administration services provided. In addition, the Company pays an Ongoing Advice Charge ("OAC") to St. James's Place Wealth Management plc ("SJPWM") when the client has requested ongoing advice services.
St. James's Place Management Services Limited facilitates employment for the Group and management of expenses, while St. James's Place Partnership Services Limited acts as treasury company for the Group, securing funding and managing lending by the Group.
Further information about St. James's Place, the St. James's Place Partnership, the St James's Place approach to fund management and the IMA, and the full range of wealth management products, is included within the Strategic Report of the St. James's Place plc Annual Report and Accounts.
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St James's Place Group plc published this content on 16 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2023 11:53:06 UTC.
