St James's Place headquarters in Cirencester.
St James’s Place has lost its place in the FTSE 100, with the UK’s largest wealth manager set to drop from the blue-chip index later this month.
According to the confirmed FTSE Russell June review, which will take effect on 24 June, SJP will be joined in the FTSE 250 by fellow leavers Ocado Group and RS Group, while Darktrace, LondonMetric Property and Vistry Group assume their places in the FTSE 100.
The move follows dwindling inflows at the wealth manager amid a structural review of the business as attention grows on its charging structure. Earlier this year, the firm set aside £426m for potential client refunds and slashed its dividend.
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Year-to-date, the firm's share price has fallen 21.5% and is down 55.5% over 12 months.
Despite Liontrust's climb of 26.5% year-to-date and its teased FTSE 250 promotion in the indicative reshuffle list, the asset manager is set for another quarter in the FTSE 350.
Headed by John Ions, the firm has suffered a 10.3% share price drop since the indicative quarterly review was announced, keeping the fund house out of the FTSE 250.
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Joining in its stead are Alpha Group International, Renewi, and XPS Pensions.
Exiting the FTSE 250 are Octopus Renewables Infrastructure trust, which has shed 15.8% from its share price year-to-date and 24.7% over 12 months, Ferrexpo and Mobico Group.
