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economictimes.indiatimes.com / 2 years ago
investmentweek.co.uk / 2 years ago
livemint.com / 2 years ago
investmentweek.co.uk / 2 years ago
St James's Place makes raft of manager and remit changes to fund range
Tom Beal, director of investments at SJP
The firm's Global Absolute Return fund will see Fulcrum Asset Management joining existing managers Amundi, BlackRock, Payden & Rygel, Wellington and State Street Global Advisors.
The fund launched in 2012 and currently has £8.1bn in assets under management, having returned -2.7% compared to a sector average of 10.4%, according to data from FE fundinfo.
Additionally, the SJP Japan fund, currently managed by Comgest, will see Dalton Investments joining the management team.
The £549.9m fund has lost 22.7% over the last five years, compared to the LF Japan Equities average of 11.5% returns.
St James's Place begins hunt for Andrew Croft's successor — reports
SJP's Gilts fund will be renamed the Global Government Bond fund, as the fund adopts a global approach, rather than solely investing in UK government bonds.
The £135.3m fund is managed by Wellington, and has lost 15% over the last five years, compared to an LF UK Gilts average of 19.9% loss.
Similarly, the Index Linked Gilts fund will be renamed the Global Government Inflation Linked Bond fund and its remit will also be expanded.
Managed by BlackRock, the £89.9m fund has performed strongly compared to the sector, losing only 0.9% over five years rather than a 21.5% loss for LF UK Index — Linked Gilts.
Finally, the firm's International Equity fund will be allowed to invest in a greater number of businesses, with SJP saying this would «increase investment flexibility».
The £7.1bn fund was launched in 2000 and has returned 16.4% over five years, compared to a 12% loss from LF Flexible Investment.
SJP pre-tax profits up 42% but Consumer Duty changes loom
Tom Beal, director of investments at SJP, said: «These changes further align
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