AXA IM's Nigel Thomas has added to his position in wealth manager St James's Place, whose shares have fallen 4% today as Lloyds Banking Group placed a 20% stake in the business into the market.
Thomas' £3.2bn AXA Framlington UK Select Opportunities fund held 750,000 shares - worth around £3m - in St James's Place at the start of 2013, according to S&P Capital IQ, He has since added to the position amid a 25% year-to-date rise in the wealth manager's share price. The exact timing of Thomas' latest purchase, made since the turn of the year, is unclear. But the manager (pictured) has previously said his original 2010 investment in SJP was in part based on a belief he could add to the position if Lloyds disposed of its stake. Today shares in the group fell following the news ...
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