St James's Place to launch Global Growth fund

Results also note ‘degree of caution’ on DB transfers

St James's Place is to launch a global growth fund. The wealth manager confirmed the news in its interim results, which also revealed it approaching the defined benefit (DB) transfer market with "a degree of caution".

The new Global Growth fund, which will be run by four managers already on the group's roster - Sands Capital, Edgepoint, Magellan and Select Equity Group - will have a growth bias, exposure to cyclical sectors and be overweight in small and mid-cap holdings. St James's Place said the launch was part of its bid to ensure clients continue to have an appropriate mix of investments at their disposal, which will also see it adding a new ‘Strategic Growth Portfolio' later this year. Other initiatives confirmed in the group's results, which cover the first six months of 2017, include the lau...