SJP drops PIMCO and soft-closes two income funds in latest overhaul


St James's Place has dropped PIMCO's team as manager of its multi-asset fund as part of a number of changes to its investment range.

The wealth manager said its SJP Multi Asset fund - currently run by PIMCO's Mihir Worah, Curtis Mewbourne, Vineer Bhansali - will be split across three new teams from November. Invesco Perpetual's new multi-asset team led by David Millar, alongside Mike Hodgson from Schroders and US-based Payden & Rygel (with which SJP has an exclusive UK retail relationship) will now all manage a portion of the strategy, which aims to provide a balance of income and capital growth over the medium to long term. Worah is one of three PIMCO managers assigned to take over management of the $221bn PIMCO T...

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