St James’s Place is to pull the management of the £235m SJP Investment grade corporate bond fund from Invesco Perpetual’s Paul Read and Paul Causer.
In the wealth manager’s latest financial results, David Bellamy, chief executive of SJP, says the mandate will be awarded to Ken Buntrock of Loomis Sayles from April this year.
SJP says the move was carried out to reduce its reliance on any one single manager.
Read and Causer have managed the portfolio since inception in March 2009. Both will remain at the helm of the £228.2m SJP corporate bond fund.
SJP will also award the management of the £87m SJP UK growth fund to Majedie Asset Management. This portfolio was previously managed by John Innes of RWC Partners.