Schroders' Philip Matthews to join Wise Funds

Joins on 3 September

Wise Funds has hired Schroders' Philip Matthews as fund manager to co-manage the TB Wise Multi-Asset Growth and TB Wise Multi-Asset Income funds.

Matthews, who joins Wise Funds on 3 September, has spent the past five years at Schroders and managed the group's flagship UK Alpha Plus fund until March this year, when he was replaced by Bill Casey and Nick Kissack following a period of underperformance. Over Matthews's tenure, the fund failed to outperform the sector or benchmark, returning 33.4% against the 41.6% average for the IA UK All Companies sector and 39.5% for the FTSE All- Share, according to FE data. Matthews also managed the UK Growth trust, which is in the process of being handed to Baillie Gifford's Iain McCombie and...