Schroders denies hard-closure plans after analyst call

Schroders has said its UK funds are still open after the group's Massimo Tosato told analysts it is set to hard-close some of its most popular UK equity strategies in the coming months.

The recently acquired Cazenove business has already moved to limit flows into Julie Dean's UK Opportunities and offshore UK Equity fund as assets in the strategy approached £2.5bn. Following the action Schroders took on Paul Marriage's funds last year, Schroders executive vice chairman Massimo Tosato told analysts the group is now considering hard-closing more UK equity products. The group has subsequently said it has no plans to close its products. "We manage capacity very carefully: it is part of the quality of our offering and we are very careful in continuing managing it on a d...