Schroders reopens Marriage's long/short fund ahead of shift to weekly dealing

Schroders has re-opened Paul Marriage's Absolute UK Dynamic fund and is to shift the portfolio to weekly dealing as a result of "declining liquidity" within the UK equity market, Investment Week can reveal.

The long/short portfolio was hard-closed on 6 November 2013 following what the group described as "significant inflows" that year, but assets have now fallen from £350m to a current level of £220m, according to Morningstar. As a result, Schroders has reopened the fund as of yesterday (17 February), three months after Marriage (pictured) first flagged the possibility. In a letter to clients announcing the reopening, Schroders' head of UK intermediary Robin Stoakley said the fund will also shift to weekly dealing on 23 April. As of that date, dealing in the fund will take place every...