St. James's Place has dropped Woodford Investment Management from the running of a suite of its funds, replacing the company with Columbia Threadneedle and RWC Partners.
In a notification to the stockmarket on Wednesday, St James's Place announced it had terminated its mandate with WIM. The mandate comprises £3.5bn worth of assets under management in its UK High Income Unit Trust, UK Equity (Life and Pension), Income Distribution (Life) and SJPI UK High Income funds. The mandate will now be run by Threadneedle's Richard Colwell and RWC's Nick Purves. St James's Place said Colwell is its longest-running fund manager, having run mandates for the wealth manager since 2014. It's the latest in a string of blows for Neil Woodford, who's flagship Woodford Eq...
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