St James’s Place, the wealth management group, is making changes to its range of fund managers and mandates effective from 10 November 2014.
The Multi Asset fund has been restructured to blend three new investment managers. Teams from Invesco Perpetual, Schroders and US-based Payden & Rygel will now manage the fund. The objective of the fund remains unchanged – to provide a balance of income and capital growth over the medium to long term.
The funds managed by George Luckraft of AXA Framlington will be closed to new investments.
A new fund will be managed by Chris Reid of Majedie Asset Management.
Chris Ralph, chief investment officer, St. James’s Place, says: “The changes to the Multi Asset fund are very exciting. The new structure allows our clients to benefit from the combination of the three teams’ different skills and approaches and the potential for strong returns and greater capital protection over the medium term. Payden & Rygel is another fund manager with which St. James’s Place has an exclusive relationship in the UK retail market.
“Our investment management approach ensures that our clients will benefit from a seamless transition to these new arrangements. Investors in the Multi Asset fund will also benefit from a reduction in the external management charge. These changes provide a further demonstration of the benefits of our investment approach and rigour of the work undertaken by the investment committee and our investment consultants.”