Upbeat St James’s plans news funds

ST JAMES’S Place, the genteel wealth manager which has soared above the turmoil of the sector, plans to capitalise on its success by launching three funds.

SJP, which is known for its affluent client base, said Pimco will run a multi-asset fund, Invesco a global equity income fund and BlackRock an index-linked gilt fund to be offered as part of a new defensive investment portfolio for cautious clients. It also said it will carry out a review of the managers of its existing funds – numbering more than 30 – in April.

The Lloyds-backed manager said the net inflow of funds under management was £3.3bn last year, bringing total funds to £28.5bn.

Total new business was up 10 per cent at £642.3m over the year.