St James’s Place, which dropped out of the FTSE 100 earlier this year, is confirmed as back in the index.
A cost-cutting plan and rising assets under management have helped bolster the company’s share price by as much as 67.79% in the last six months, putting it back into the FTSE 100,
It recently hit the headlines having elected to wind down £1.8bn of property funds amid ‘challenging period’ for property sector and cutting 500 jobs as part of a firm wide restructure.
Alliance Witan, the investment trust formed from the merger between Alliance Trust and Witan Investment Trust in June this year, is also heading into the FTSE 100. When the two trusts came together, it was the largest such combining of strategies in UK investment trust history.
Retail headwinds, profit warnings, and accompanying stock price falls have pushed retailer Frasers Group and housebuilder Vistry Group out of the FTSE 100, as well as value retailer B&M European Value Retail SA . Alongside St James’s Place and Alliance Witan, hobby stock Games Workshop swapped places with these stocks.
