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SJP drops Standard Life Aberdeen on ethical fund mandate

St James's Place will also invest in Impax's Global Opportunities strategy as part of the deal.

SJP drops Standard Life Aberdeen on ethical fund mandate

St James’s Place (SJP) has replaced Standard Life Aberdeen (SLA) with Impax Asset Management as it changes its ethical fund.

The fund was run by SLA global equity manager Jamie Cumming, but SJP has now chosen Impax to manage the rebranded fund.

SJP said it will change the fund's name to the Sustainable and Responsible Equity (SRE) fund, to ‘better describe its investment objective’.

Kirsteen Morrison and David Winborne from Impax will manage the fund, which currently has £286 million in assets under management (AUM).

Subject to regulatory approval, SJP will invest via Impax’s Global Opportunities strategy, co-managed by Morrison and Winborne.

The partnership could be a big boost to Impax, which currently has around £11.8 billion in AUM.

Impax chief executive Ian Simm described being selected by SJP as a ‘great honour’, reflecting the ‘changing needs of the private client market’ with clients who want sustainable choices.

He added: ‘At Impax we believe that demographic change, resource scarcity, inadequate infrastructure and environmental constraints will disrupt private sector markets quite profoundly in the coming years, and the expected transition will lead to outperformance for well-positioned companies.’

SJP has also launched a diversified assets fund, which will be managed by American-based investment firm KKR.

Chris Ralph, chief investment officer at SJP, said: ‘This strategy will offer our clients access to private market assets which have, historically, only been available to institutional investors.’

He added that the Impax strategy was in response to client demand: ‘This strategy adopts a differentiated philosophy, which effectively integrates ESG considerations, as both a source of growth and a risk factor, into a more traditional, fundamental investment process.

‘The fund will invest in globally listed companies which stand to benefit from the transition to a more sustainable global economy.’

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