SJP announces changes to global equity fund

St. James’s Place has announced sustainability changes to its £14bn Global Equity Fund.

SJP says the changes will bring the fund in line with the firm’s criteria for responsible investing and net zero commitments.This includes a lower carbon footprint that will be half that of the fund’s benchmark at launch and the launch of three new investment strategies offering greater diversification across styles.

State Street Global Advisors, Man Numeric, and LA Capital will manage three new strategies, each with equal weighting. The actively managed element of the fund increases from 40% to 66%, while the removal of a constraint to track the MSCI All-Country World Equal Weight Index will help provide more balanced regional, style and market capitalisation exposures.

Rob Gardner, Director of Investment Management at St. James’s Place, says: “As a £14bn fund, we have been working hard on these changes over the last few years and we are delighted to evolve it in a way that can reduce its overall carbon footprint. On a standalone basis, it becomes one of the largest of its type to integrate ESG factors into its decision-making processes, both to find investment opportunities and mitigate risks.”