Schroders to soft-close Howard-Spink's European Alpha Plus

Schroders is set to soft-close its European Alpha Plus fund, managed by Leon Howard-Spink.

The group will not place a hard cap on the fund by raising the charges, but has stopped actively marketing it. Schroders has contacted major investors to tell them it is "in their own interests" not to put any more money into the fund, according to Robin Stoakley, managing director. Stoakley added the firm has always had in mind a capacity level of about €4bn-€5bn for the fund across both retail and institutional mandates, which is it is now approaching. The majority of the assets are institutional money and assets managed on behalf of offshore clients – the fund’s retail AUM stands a...