Schroders Gets $6.3 Billion Impax Mandate From St. James’s Place

Schroders Plc has won a £5.2 billion ($6.3 billion) investment mandate from St. James’s Place Plc, as the wealth manager reassigns a contract it pulled from Impax Asset Management Group Plc late last year.

SJP’s Sustainable & Responsible Equity fund will invest in Schroders global sustainable growth and global value equity investment strategies, according to an emailed statement on Monday. The changes, which will result in a decline in ongoing charges of 0.01%, are due to take effect from Feb. 24, it said.

In a separate statement, Schroders said the funds plan to adopt the UK Financial Conduct Authority’s ...