St. James’s Place (SJP) has appointed Acadian Asset Management as investment adviser to its Worldwide Income Unit Trust, replacing Ninety One.
The firm said the change will bring about a more diversified and systematic investment approach.
The portfolio is expected to expand from around 30 holdings to approximately 500. The broader approach is intended to reduce concentration risk and provide a ‘more consistent and resilient source of income.’
Alongside the change in investment approach, the ongoing charges for the fund have been reduced by 0.3% across all unit classes.
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The offering will also be renamed to the St. James’s Place Global Equity Income Unit Trust.
Justin Onuekwusi (pictured), chief investment officer at St. James’s Place, said: “These changes reflect our commitment to continuously evolve our investment approach to deliver long-term outcomes for clients.
“By combining a more diversified portfolio with a systematic, data-driven process, we believe the fund is positioned to provide a consistent level of income while managing risk effectively.
“The reduction in ongoing charges is also an important step in improving value for clients.”
