St James's Place hands absolute return multi-asset mandate to Amundi

St James's Place has appointed Amundi Asset Management to manage a new £2.8bn Global Absolute Return Multi-Strategy mandate that is targeting an absolute return of cash plus 5% to 6%. Amundi's Milan-based global absolute return team, headed by Davide Cataldo, will manage the sterling-denominated mandate on behalf of UK investors. The asset manager said the strategy will employ "both directional and relative value investment ideas" in the portfolio, to achieve a high level of diversification and with a "focus on downside protection, utilising multiple layers of risk management". The...