SJP to launch multi-asset and global equity income funds
St James’s Place is launching a multi-asset fund and a global equity income fund next month as it looks to broaden its investment offering.
The multi-asset fund will be run by Pimco, while the global equity income fund will be run by Invesco. Both funds are set to be launched on February 1.
As part of its defensive portfolio SJP is also launching an index-linked gilt fund managed by Blackrock around March.
SJP chief executive David Bellamy (pictured) says: “We go into 2012 with a strong investment proposition, and one of the things we are very keen to do is constantly extend that. The latest funds are part of the continued stregthening and broadening of the investment proposition.”
SJP launched its “new concept” global equity fund in September. The core portfolio makes up 60 per cent of the fund and is equally weighted and managed by Blackrock, while four satellite portfolios are run by Sands Capital, Tweedy Browne, Majedie Asset Management and THS Partners.
The company has reported a 10 per cent increase in total new business from £581.8m in 2010 to £642.3m in 2011.
Funds under management are up 6 per cent from £27bn to £28.5bn, while net inflows of funds under management are up from £3bn to £3.3bn.