St James's Place is to reallocate £7bn in mandates currently run by Invesco Perpetual to Neil Woodford and Threadneedle, with a further £700m mandate going to Manulife.
In a huge shake-up of its allocations, the firm has agreed a deal with Oakley Capital that will see income star Woodford run mandates for the wealth manager at his new venture. Woodford Investment Management will run SJP's UK High Income, UK Equity and Income Distribution funds, which have around £3.65bn in AUM. Oakley Capital head of retail asset management Craig Newman said the group is providing the infrastructure to enable Woodford to run the mandates "immediately after his employment with Invesco terminates on 29 April 2014". Meanwhile Threadneedle's Richard Colwell, Stephen T...
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