St. James’s Place swaps Ninety One for Robeco on European fund amid manager changes and fee cuts

The Balanced Managed and Continental European funds will have lower ongoing charges

FCA changes could fail to budge pre-RDR investors


St James’s Place (SJP) has switched Ninety One for Robeco Institutional Asset Management as the manager of its Continental European fund, effective from today (20 November). The firm has also added PineBridge Investments to the manager line-up of its Balanced Managed fund, who will now work alongside GMO.

The charges of both funds will be reduced from 0.36% to 0.08% per annum, and from 0.36% to 0.34%, respectively.

See also: St James’s Place defends remuneration policy after mini shareholder revolt

Tom Beal, executive director of Investments at St. James’s Place, said: “We constantly look to improve and evolve our fund range to ensure positive client investment outcomes are met. Our clients benefit from our size and scale which enables us to source and negotiate highly competitive fees with the best global fund managers.

“PineBridge Investments stood out in our search due to its heightened focus on returns driven from asset allocation, as well as offering improved diversification. As for Robeco, it has one of the best resourced equity research teams in Europe managing this type of active strategy. This allows them to simultaneously focus on cutting-edge research whilst managing investments to deliver their funds’ objectives.”

Last month, SJP announced it will change its charging structures in order to keep costs competitive, with the firm ceasing to charge investors for early withdrawals from investment bonds and pensions from the second half of 2025. It also removed gestation periods on the products.

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