Schroders to launch US Alpha Plus fund next month

Schroders is launching an onshore US Equity Alpha fund for head of US large cap equities Joanna Shatney on 14 December.

Shatney has run a Luxembourg-domiciled version of the fund since 15 December 2010. The fund will be a concentrated version of the US team's best ideas and will invest in up to 50 companies with a market cap above $1bn. Cash levels can be taken as high as 15% on the fund and it will be benchmarked against the S&P 500. Shatney's top holdings on the offshore US Equity Alpha fund include Apple at 6.1%, Google at 4.2% and Reynolds American at 4.1%. Commenting on the launch, Shatney said: "This fund only contains our highest conviction stocks and we are very growth focused with all the h...