SJP to launch income fund run by Artemis's Frost and Gosden

St James's Place (SJP) is to launch a UK and international income fund run by Artemis's Adrian Frost and Adrian Gosden as part of a raft of changes to its investment offering.

The UK and International Income fund will launch on 18 October, and Frost (pictured) and Gosden will aim to achieve an income exceeding the average yield of FTSE All Share stocks.

Upmarket sales force SJP will retain Nick Purves and Ian Lance as managers of its Equity Income fund after their move from Schroder Investment Management to RWC Partners earlier this year.

However, Nick Kirrage and Kevin Murphy, who took over the running of the Schroder Income fund following Purves and Lance's departure, will assume responsibility for the UK element of the SJP/Schroder Managed funds and the Managed Growth fund from Purves.

US fund group Artisan Partners will take over the running of SJP's Global Managed funds and Global fund. Artisan's Dan O'Keefe and David Samra will assume responsibility for the £1.2 billion funds.

SJP chief investment officer Chris Ralph said that the group had wanted to diversify its income offering with the launch of the UK and International Income fund.

'As we build our funds under management we recognise the increasing importance of providing our clients with opportunities to diversify both by fund and manager style,' he said. 'The Artemis UK Equity Income team, led by Adrian Frost, is undoubtedly one of the most respected in the industry.'

He added that SJP had decided to retain Purves and Lance on its Equity Income fund after 'intensive discussions' with the managers and RWC. 'We retain our confidence that Nick and Ian are well-placed to continue their successful management of the Equity Income fund,' he said.