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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
