St James’s Place Capital has appointed Insight Investment to oversee the building of a £500m commercial property portfolio, in a major strategic shift into the sector.
One of the UK’s biggest wealth management companies, St James’s has around 400,000 clients, most of whom will now gain exposure to commercial property.
Although St James’s has no property holdings at present, it is to recommend that 10% of its clients´ portfolios should be in property. It plans to move existing funds in other asset classes into property.
The mandate begins on 5 April. Insight has been instructed to build what Managing Director, Duncan Owen, described as “a classic balanced portfolio.”
Owen said that there would be a mix of securely-let properties and active management investments where Insight can add value.
Source: Property Week / Freeman News