SJP hits back at THS Partners over sacking

St James's Place has broken its silence over its sacking of Taube Hodson Stonex Partners (THS) after a twenty-year relationship.

SJP announced in November it would be replacing THS - its longest-serving fund manager who at one point ran £5bn of assets for the firm - with Australian Magellan Asset Management and Canadian-based Edgepoint. Aggrieved at the decision, THS this month took the unusual step of running full page advertisements in a number of national newspapers, pointing out the inferior performance of the SJP pension fund after it slashed THS's mandate from £5bn to £1bn in 2011. Though it refused to comment at the time on the mandate changes, SJP CEO David Bellamy (pictured) told IFAonline the retireme...