St James’s Place has set out plans to launch a Global Growth fund and a Strategic Growth portfolio to cater to clients looking for more diversified investments.
In its half-year results to 30 June, published today, SJP says the Global Growth fund will have a growth bias, with exposure to cyclical sectors and will be overweight in small and mid-cap holdings.
It says: “In the low yield environment, clients are increasingly having to look for more diversified sources of income, and to ensure our clients continue to have an appropriate mix of investments at their disposal, we will be adding a new Strategic Growth portfolio later this year.
“At the same time, we will be launching a new Global Growth fund, which seeks to utilise the talent of four existing managers on our roster – Sands Capital, Edgepoint, Magellan and Select Equity Group.”
SJP says it is looking at other ways to broaden its investment management proposition, as well as using technology to deliver a better service for clients.
Funds under management have gone from £65.6bn a year ago to £83bn. Net inflows rose from £3.1bn to £4.3bn over the same period.
The company has posted a pre-tax profit of £79.6m, compared with £60.5m in June 2016.
SJP has increased its interim dividend by 25 per cent from 12.3 pence per share to 15.4p.