Majedie expands relationship with St James’s Place

Mandate extension adds to existing role on three SJP funds

Majedie Asset Management (“Majedie”), the investment boutique, today confirmed that its relationship with St James’s Place (“SJP”) is soon to expand with a £350m extension to its SJP UK & General Progressive Fund mandate. Majedie will manage around £1.7bn ($2.2bn) in aggregate for SJP across three funds: UK & General Progressive, UK Growth and UK Income.

Since Majedie closed its UK equity strategies to new business in 2006, any available capacity has been offered to existing and new clients, subject to overall index-linked limits. From time to time capacity is made available as corporate defined benefit scheme clients undertake periodic ‘de-risking’ measures.

The segregated SJP UK & General Progressive and UK Growth mandates are managed by James de Uphaugh, Chris Field, Matthew Smith and Richard Staveley, who together comprise Majedie’s UK Equity Fund team. The segregated SJP UK Income mandate will from later this month be managed as a bespoke portfolio by Chris Field. Chris Reid continues to lead manage the Majedie UK Income Fund which, irrespective of the recent relaxation in the Investment Association’s UK Equity Income sector yield requirement, will continue to target premium income generation.

Commenting on today’s news, Rob Harris, CEO of Majedie, said:

“We are proud of the longstanding relationship between Majedie and St James’s Place and really pleased to have been entrusted with this mandate extension, whilst also acutely aware of the responsibilities that come with it.

“Suffice to say, the Majedie investment team continues to focus its efforts on generating good long-term returns for underlying investors in each of our UK, US and Global equity strategies.”

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