St James's Place has dropped PIMCO's team as manager of its multi-asset fund as part of a number of changes to its investment range.
The wealth manager said its SJP Multi Asset fund - currently run by PIMCO's Mihir Worah, Curtis Mewbourne, and Vineer Bhansali - will be split across three new teams from November. Invesco Perpetual's new multi-asset team led by David Millar, alongside Mike Hodgson from Schroders and US firm Payden & Rygel (with which SJP has an exclusive UK retail relationship) will now each manage a portion of the strategy, which aims to provide a balance of income and capital growth over the medium to long term. Worah is one of three PIMCO managers assigned to take over management of the $221bn PIM...
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