Artemis’s Frost and Gosden to run SJP income fund

Adrian Frost and Adrian Gosden of Artemis are to run a new UK and global income fund for St. James's Place (SJP).

The UK and International Income fund will launch on 18 October, with the managers aiming to achieve an income greater than the average yield of stocks in FTSE All Share index.

It will invest primarily in UK equities, but has the flexibility to invest in fixed interest and overseas stocks.

Meanwhile, SJP will retain Nick Purves and Ian Lance as managers of its Equity Income unit trust following their departure from Schroders to RWC Partners earlier this year.

However, Nick Kirrage and Kevin Murphy who took over the running of the Schroder Income fund following Purves and Lance's departure, will replace Purves and assume responsibility for the UK element of the SJP/Schroder Managed funds and the Managed Growth unit trust.

Among other changes, US-based Artisan Partners will assume responsibility for the management of the its Global Managed funds and Global unit trust from the 18 October. Managers Dan O'Keefe and David Samra will take on responsibility for managing assets of £1.2bn held within these global equity funds.

SJP chief investment officer Chris Ralph says: "As we build our funds under management we recognise the increasing importance of providing our clients with opportunities to diversify both by fund and manager style. In doing so, we must ensure we continue to provide access to managers acknowledged as true experts in their field.

"The Artemis UK equity income team, led by Adrian Frost, is undoubtedly one of the most respected in the industry.

"In what is still a challenging environment for investors seeking income, we are delighted to add the capabilities of the Artemis team to our already impressive range of managers in the equity income field - Neil Woodford, George Luckraft and Nick Purves."