St. James's Place removes AXA IM's Beveridge as manager of Balanced Managed fund

GMO and Jennison Associates appointed

St. James's Place has replaced AXA Investment Managers' Mark Beveridge as manager of its £777m Balanced Managed Unit Trust.

GMO portfolio manager Ben Inker and Jennison Associates' global equity head Mark Baribeau have been appointed to manage the trust. The changes remain subject to regulatory approval and AXA IM will continue to manage the fund during the interim period. Inker, who will be  lead manager on the trust, will manage 80% of the fund's assets using a value-orientated, asset allocation strategy, while Baribeau will be in charge of the remaining 20%, which will sit in a concentrated portfolio of global equities. St. James's Place said it is making the switch as part of the standard investment...