UK wealth manager St. James’s Place (SJP) has made changes to its £13bn Global Equity fund, appointing a new investment adviser and renaming the strategy to reflect a greater emphasis on lower-carbon investing.
Acadian Asset Management has been selected as the fund’s new investment adviser, replacing the previous managers. The fund will shift to an active, systematic investment approach based on Acadian’s quantitative process.
The fund will continue to target capital growth over a period of five years or more and remain benchmarked to the MSCI All Country World Index.
The fund will be renamed the St. James’s Place Global Lower Carbon Equity Unit Trust.
SJP is also updating the fund’s sustainability disclosures to give clearer information on how it aims to keep its carbon footprint lower than that of its benchmark. Although these characteristics have been part of the strategy since 2021, the asset manager said the revised disclosures aim to make it easier for clients to understand how the approach is being applied in practice.
Justin Onuekwusi, chief investment officer at St. James’s Place, said: “These changes reflect our continued commitment to evolving our investment shelf to improve long term client outcomes. We have a strong conviction in Acadian’s approach and believe this change will support better investment outcomes for clients. By moving to an active, systematic investment approach and enhancing sustainability disclosures, we are strengthening the fund’s ability to capture global equity opportunities while maintaining a clear focus on lower carbon intensity.”
Kelly Young, CEO at Acadian, added: “We’re proud to partner with SJP in supporting their investment objectives with our disciplined, systematic approach. This is the culmination of an extensive and productive dialogue between SJP and Acadian on the optimal solution to meet the unique needs of the U.K.’s largest wealth management provider. I’m thrilled about the opportunity to work together and to continue to collaborate in service of SJP’s investors.”
