St James’s Place overhauls fund range
It will launch new funds targeting Japanese equities and global growth shares
FTSE 100 constituent St James’s Place (STJ) is shaking up its fund offering. The changes see the launch of new vehicles offering exposure to Japanese equities and global growth stocks.
The former is set to be managed by Yoshihiko Ito of Nippon Value Investors and the latter by Magellan, EdgePoint, Sands Capital and Select Equity Group who already run money for the wealth manager.
Changes are also being made to the management and allocation of existing funds. The new funds will be available from 6 November. In the latest edition of Bestinvest’s Spot the Dog report, highlighting funds which have underperformed their relevant benchmark by 5% or more over three years, St James’s came second to Aberdeen Asset Management (now part of Standard Life Aberdeen (SLA)) by assets under management in underperforming funds.
Three funds with nearly £1.7bn of assets fell foul of the criteria, namely St James’s Place Equity Income (GB0008377144), St James’s Place Asia Pacific (GB0007667669) and St James’s Place Ethical (GB0006126766). (TS)