St James’s Place has replaced Aberdeen Standard Investments as appointed manager of its £286m Ethical fund.
The fund changes, which will take effect later this year, include a manager switch to Impax Asset Management and name change to the Sustainable and Responsible Equity fund.
The group says the name change is to “better describe its investment objective.”
This comes as another blow for Standard Life, which recently saw eight senior staff leave for Aviva Investors.
SJP chief investment officer Chris Ralph says: “These developments reflect our continued commitment to identifying new investment opportunities for our clients and selecting the best fund managers from across the globe to manage our range of funds.”
“Our focus remains to provide clients with a diversified range of funds to meet their long-term investment objectives.”
St James’s Place has also unveiled a new Diversified Assets fund, with global investment firm KKR appointed as manager.
The group says the fund will invest in a diversified portfolio of public and private market assets in the private equity, real estate, infrastructure, as well as private and public credit spaces.
In January, SJP replaced Axa Investment Management as the manager of its £3bn Balanced Managed Unit Trust after 11 years.
It picked US-based investment managers GMO and Jennison Associates as co-managers of the fund starting their mandate over next summer.