Schroders scrapes £75m for British Opportunities Trust as UK smaller companies launches fail to entice

Firm 'faces headwinds'

Pessimism on UK assets and heavy discounts elsewhere in the peer group meant fund managers secured just one-sixth of the £450m expected to be raised for UK smaller companies investment trusts.

Schroders said it had scraped together £75m for its British Opportunities Trust (SBO), which aims to take stakes in firms from the more mature end of the smaller companies universe in both public and private markets. The company, led by head of equities Rory Bateman and head of UK and European private equity Tim Creed, reiterated its belief that "there is a once in a generation opportunity to invest equity capital into high-quality, high-growth UK companies in the £50m to £2bn equity value range with sustainable business models at attractive valuations". Schroders appoints Big Society...