St James's Place changes managers and reduces fees for two funds

The funds in question are the Balanced Managed and Continental European, which will reduce their ongoing charges from today (20 November). PineBridge Investments has been added to the manager line-up of the Balanced Managed fund alongside GMO. The fund fees will be reduced from 0.36% to 0.34% per annum. SJP noted the two basis points drop was due to a change to the amount paid to the managers. These fees, however, could change over time due to the size of the fund, as charges may be increased if the portion of the assets managed decreases or if market movements cause its portion of th...