St James's Place to merge four funds into one £4.3bn mandate

UK Equity Income fund

St. James’s Place is planning to merge four of its UK equity income funds to create one portfolio.

The Allshare Income, Equity Income, UK Income, and UK and International Income funds will all be combined into a new UK Equity Income fund, with an AUM of £4.3bn. This new portfolio will hold a minimum of 80% UK equities, but it will also invest across a mix of asset classes, such as global equities, global fixed interest and index-linked securities. The fund group said the investment objective, policy, benchmark, and manager line-up will all change. On the latter, the new portfolio will retain managers from Artemis and Redwheel (formerly RWC) and will add JP Morgan Asset Managemen...