Schroder UK Public Private's Creed defends global remit change

Set a ‘high bar’

Tim Creed, manager of the £362.7m Schroder UK Public Private trust, has defended the decision to increase the geographical remit of the trust, which had left analysts sceptical.

In an interview with Investment Week, Creed said the changes to the policy will ensure a "high bar for new investments" and differentiate the trust from Schroder's other UK private markets offering - Schroder British Opportunities. On 18 May, at SUPP's AGM, the investment policy was altered to allow the managers to consider global investment. The former Woodford Patient Capital trust had been focused on venture and growth UK companies, something the manager had said would continue, but believed shareholders would be better served by looking further afield. These proposals, which we...