SJP to launch global equity fund in bid to diversify assets

St. James’s Place is launching a global equity fund in a bid to diversify assets away from fund manager THS Partners.

The new fund will be run by five managers, including THSP, to provide investors with exposure to a more broad-based investment management offering.

SJP is seeking to move existing investors in THSP-run mandates, with the exception of investors in the International unit trust, into the new Global Equity fund.

The fund will use a different investment proposition, supported by the five managers, allowing for greater capacity for future growth in assets.

Funds under management run by THSP on behalf of SJP clients have grown to over £5bn, increasing single manager risk and prompting SJP to launch the new fund.

Chris Ralph, SJP CIO, said: “We are not dropping THSP, we have a long-standing relationship with them, and what we want to do is continue to develop our fund platform in a way that includes them in the future. 

“We want to make sure we have the right scale of relationship with them, as well as the fact we highly value the contribution they have made to our clients’ investment performance over the years.”

SJP is in the process of gaining FSA approval for the fund and will be contacting clients in the coming months, with the aim of completing these changes by the end of summer.

THSP was founded by Nils Taube, John Hodson and Cato Stonex and is SJP’s longest serving management team for over 18 years.

Funds managed by THSP include the £1.7bn SJP/THSP Managed Life fund and the £8m THSP Managed Distribution fund.