Amundi, Europe’s largest asset manager, has been appointed by St. James’s Place (“SJP”) to manage a new £2.8 billion Global Absolute Return Multi-Strategy mandate.
St. James’s Place is a leading UK wealth management firm, founded in 1991, with over £153 billion of client funds under management.
The mandate will be sterling-denominated and will target an absolute return of cash + 5-6% over a market cycle, based on a strategy that seeks to deliver positive returns in all market environments in the mediumterm, with a low correlation to broader markets. The strategy will employ both directional and relative value investment ideas in the portfolio with a high level of diversification1 and a focus on downside protection, utilising multiple layers of risk management.
ESG integration will also be a hallmark of the strategy’s approach, which is a classified SFDR Article 8, thanks to Amundi’s long history of, and recognised expertise in, responsible investing with over €800 billion in responsible investing assets as of 30 September 2021.2 The strategy will employ both Amundi’s proprietary ESG analysis and rating methodology, while leveraging the company’s robust stewardship and engagement policy with issuers.