St. James's Place to review three funds run by Purves

St. James's Place has put three funds run by Nick Purves under review following his resignation from Schroders this week.

Purves, who is joining RWC Partners with Schroder Income fund co-manager Ian Lance, runs three mandates for St. James Place - the £638m SJP Equity Income and the new SJP Managed Growth unit trusts, as well as substantial life and pension assets through the SJP/Schroder Managed fund. St. James's Place CIO Chris Ralph says the group has placed the funds under review and will discuss the ongoing management at its investment committee meeting tomorrow. "We have an established investment process which selects and monitors all our managers," he says. "Clearly the funds are under review. ...