Schroders to merge corporate bond funds with Stewart at helm

Schroders is to merge its Corporate Bond fund into the Cazenove UK Corporate Bond fund as it continues to streamline its range following the takeover of Cazenove Capital.

The top performing £126m Schroders fund will be merged into the £200m Cazenove portfolio as part of the rebrand of the Cazenove range under the Schroders name. The enlarged fund will be known as the Schroder UK Corporate Bond fund and will be headed up by Alix Stewart (pictured). The Cazenove fund was previously run by Alex Smitten, who will continue to manage wealth management mandates in Schroders' fixed income team. Schroders said both funds currently have a similar objective of seeking to deliver income and therefore, subject to shareholder and regulatory approval, the funds will ...