Schroders to rename top-performing Medical Discovery fund

Schroders is to change the name of its £74m Medical Discovery fund as it brings the fund in line with competitors.

The fund, which is top decile in the IMA Global sector over one, three and five years, will be renamed Schroder Global Healthcare on 7 December. John Bowler will continue to manage the vehicle, which will see no change to its investment objective. "The new name will help to increase the fund's appeal and bring it in line with a number of similar competitor funds," said Robin Stoakley, managing director of Schroders UK intermediary. The fund has returned 39.7% over the three years to 2 November, according to Morningstar, compared with an IMA Global sector average of 22.1%. Over five...