SJP merges UK funds as it looks to create 'building block' offering

Majedie removed as fund manager

Kathleen Gallagher
clock • 1 min read
SJP is merging three of its UK funds to create a £1.8bn fund
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SJP is merging three of its UK funds to create a £1.8bn fund

St James’s Place (SJP) is merging its UK Growth and UK Equity funds into the UK & General Progressive fund, and ousting Majedie Asset Management as it aims to create new 'building block' funds.

As part of these changes, Baillie Gifford and LA Capital Management will be appointed to the fund, renamed the UK fund, along with Schroders, who currently manages the Managed Growth fund, BlackRock, Columbia Threadneedle and RWC. All changes take place from 14 July. James de Uphaugh, chairman and chief investment officer of Majedie Asset Management, is currently the lead manager of the £104m UK Growth fund and co-manager of the £842.3m UK & General Progressive fund. He will be removed from the funds as part of the changes. Those two funds in addition to the £854.2m UK equity fund,...

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