Schroders has been given a £5.2bn sustainable investment mandate by UK wealth manager St James’s Place (SJP).
The allocation will be made by SJP’s Sustainable & Responsible Equity (SRE) fund to a Schroders mandate that reflects its Global Sustainable Value Equity and Global Sustainable Growth strategies.
This will enable SJP’s investors to benefit from exposure to a diversified range of companies and opportunities.
The allocation is expected to transition during the first quarter of 2025.
SRE, as well as the Schroder Global Sustainable Value Equity Fund and Schroder Global Sustainable Growth Fund, all plan to adopt the Financial Conduct Authority’s ‘Sustainability Focus’ label as part of its Sustainability Disclosure Requirements (SDR).
These labels help to differentiate sustainable products, making it easier for clients seeking sustainable outcomes to identify investment opportunities that meet their requirements.
Schroders group chief executive, Richard Oldfield, said: “Our partnership with SJP is testament to the robustness of our active investment proposition, which has been further reinforced by meeting the FCA’s new criteria for sustainability labels across many of our funds.
“We are grateful for the trust SJP has placed in us and look forward to working closely together to meet their investment objectives.”
Schroders co-head of equities, Alex Tedder, said: “This investment allocation by SJP underlines the quality of our active investment process and commitment to delivering sustainable outcomes for our investors.
“Clients, investors and the industry are increasingly focused on bespoke investment solutions that are able to deliver strong risk-adjusted returns together with a comprehensive commitment to sustainability.
“Our broad-based capability and commitment to active management puts us in a strong position to meet client objectives in a rapidly transforming investment environment.”
The news follows Schroders’ announcement in December that it plans to adopt SDR labels for at least 10 funds.
So Impax loses £5.2 billion and has a peerless record in woke investing. Schroders now gets this to manage their own version of woke investments. Please excuse me for being cynical, but how much went under the table from Schroders to SJP?