InvestmentsOct 30 2017

St James’s Place announces fund shake-up

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St James’s Place announces fund shake-up

Wealth manager St James’s Place has announced a shake-up of its fund range.

A new fund investing in Japanese equities, and a Global Growth fund, are to be launched.

The Japanese fund will be managed by Yoshihiko Ito of Nippon Value Investors, based in Tokyo.

The Global Growth fund will be managed by Magellan, EdgePoint, Sands Capital and Select Equity Group, all of whom presently run money for St James’s Place.

The company’s adventurous portfolio is to change, with the current corporate bond allocation removed and the new Japanese equity fund taking its place.

This will mean the equity exposure of the adventurous fund increases.

St James’s Place also announced the launch of a new Strategic Growth portfolio, which it defines as being “medium risk.”

Johanna Kyrklund of Schroders will be appointed as the lead manager for the Managed Growth fund and will be responsible for the strategic asset allocation overlay.

Brian Vollmer of Select Equity Group will take responsibility for the global large-cap element of the manager’s strategy within the Worldwide Opportunities fund.

Chris Ralph, chief investment officer of St James’s Place, said: “The launch of the new funds, and other changes announced, reflect our continued commitment to selecting the best fund managers from across the globe.  

"These changes are a tangible demonstration of the benefits of our investment management approach, and provide clients with a diversified range of funds to meet their long-term investment objectives.

“Japanese equity markets present an interesting long-term opportunity for investors as part of a diversified portfolio, and the appointment of Nippon Value Investors represents another exclusive relationship to St James’s Place.

"This takes the number of strategies available exclusively to St James’s Place clients within the UK retail market to 29.”

Last year St James's Place once again secured the number one spot in Financial Adviser’s Top 100 ranking of financial advisers.

The list, compiled in conjunction with Financial Clarity, formerly known as Matrix Solutions and part of Strategic Insight Business, recognises successful financial advisory practices across the UK as indicated by gross sales of investment and pension product between the third quarter of 2015 to second quarter of 2016.

The top of the table (which can be viewed by clicking here) follows a familiar pattern to previous years, with St James’s Place and Hargreaves Lansdown occupying first and second positions respectively for the third year running.

Patrick Connolly, head of communications at Chase De Vere, said Japanese equities have been a particularly popular asset class this year, and that the changes have been made to the "aggressive" portfolio run by St James's Place. He said investors into a portfolio labeled aggressive should expect volatility. 

david.thorpe@ft.com