The Multi Asset fund will now be run by three new investment managers, St. James's Place said in a statement on Monday, including teams from Invesco Perpetual, Schroders and U.S.-based Payden & Rygel.

Pimco manages a total of £944 million for St. James's Place in a multi asset strategy, split among life, pension, unit trust and international funds.

The switch from Pimco will take effect on Nov. 10, according to the statement.

A spokeswoman for St. James said the company decided to shift its funds away from Pimco before the resignation of Gross on Friday.

Bill Gross, the bond market's most renowned investor, quit Pimco for distant rival Janus Capital Group Inc, the day before he was expected to be fired from the huge investment firm he co-founded more than 40 years ago.

St. James's Place currently has £49 billion ($79 billion) under management.

(Reporting by Luciana Lopez. Editing by Andre Grenon)