Royal London Asset Management awarded £4.6bn multi-asset mandate by St. James’s Place

Royal London Asset Management has been appointed to run the £4.6bn Strategic Managed fund of St. James’s Place (SJP).

Royal London Asset Management will run a bespoke, active asset allocation mandate, comprising predominantly of low active risk strategies which minimise tracking errors. The multi asset strategy will be adjusted through time in line with the fund manager’s active strategic and tactical asset allocation views. This will help to maintain access to a broad range of asset classes, but at a lower cost than is typically associated with active management.

The fund’s objective will remain the same by investing at least 60% in quoted securities on a worldwide basis. The fund will invest, at Royal London Asset Management’s discretion, in UK and overseas equities, UK and overseas fixed interest and index linked securities, units and/or shares in other collective investment schemes, cash and near cash.

Commenting, Royal London Asset Management’s chief client officer Ed Venner said: “We look forward to partnering with SJP to deliver compelling investment outcomes for their clients. We are proud that SJP recognise and value our ability to tailor multi-asset solutions to their specific needs by combining our first-class active investment capabilities with our commitment to client service.”

Justin Onuekwusi, chief investment officer at St. James’s Place, said: “We are committed to continuously improving our funds to ensure they deliver the best value for clients. The change increases the choice available to our investors – accessing different types of strategies across our multi-asset range of funds. The disaggregation of platform and advice charges from our funds later in the year will mean that our investment proposition will be priced on a like-for-like basis and be extremely competitive versus other funds in the market. The Strategic Managed Fund is an example of this.

“We are delighted to announce Royal London Asset Management as the strategic partner for this mandate. They were selected due to their experience in managing multi-asset strategies, strong track record, deep resources, and alignment with the fund’s objectives. Additionally, the increased use of low active risk strategies means the fund will respond differently to various market conditions, offering clients greater choice and enhanced diversification."

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The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.

More about multi asset investing at Royal London Asset Management