St James's Place to merge four funds into one £4.3bn mandate

The Allshare Income, Equity Income, UK Income, and UK and International Income funds will all be combined into a new UK Equity Income fund, with an AUM of £4.3bn. This new portfolio will hold a minimum of 80% UK equities, but it will also invest across a mix of asset classes, such as global equities, global fixed interest and index-linked securities. The fund group said the investment objective, policy, benchmark, and manager line-up will all change. On the latter, the new portfolio will retain managers from Artemis and Redwheel (formerly RWC) and will add JP Morgan Asset Managemen...