GMO and Jennison Associates have been appointed as co-managers of the fund, with GMO managing 80% and Jennison Associates managing 20%.
SJP said the reason for it was to blend two investment styles together and provide flexibility to allocate across asset classes over a market cycle.
Chris Ralph, chief investment officer at SJP, said: “GMO will manage a value-oriented, asset allocation strategy – exclusive to St. James’s Place investors.
“Ben Inker, the lead manager, has been with the firm since 1992 and has extensive experience in managing asset allocation and quantitative equity strategies.”
Meanwhile, Mark Baribeau of Jennison Associates will be responsible for a relatively concentrated portfolio of global equities.
Ralph said this traditional growth investing approach will ensure that Baribeau’s portfolio “will target companies that are at an inflection point in their earnings and sales growth”.
He added: “These appointments reflect our continued commitment to selecting the best fund managers from across the globe and are a tangible demonstration of the benefits of our investment management approach.
“Our focus remains to provide clients with a diversified range of funds to meet their long-term investment objectives.”
SJP said the changes are subject to the required regulatory approvals.
The news comes as the firm grew funds under management (FUM) by 20% to £90.7bn in 2017.
