Schroders revamps UK equities business to meet client need

Cutting costs and changing strategies

Schroders has announced several changes to its UK equities business including revamping a multi-manager fund and pricing review and as they look to meet “client’s evolving needs”, Investment Week can exclusively reveal.

Among the changes is the refocusing of the Schroder Multi-Manager UK Growth fund, which will change to the Schroder UK-Multi-Cap Income fund and be run by Graham Ashby and Duncan Green, who joined from Santander last year. The £11.9m fund had been invested in other UK funds such as Jupiter UK Special Situations, GAM UK Equity Income and RWC UK Equity Income. According to Doug Abbott, head of UK intermediary at Schroders, the fund used to be home for Cazenove clients' money, but the wealth management arm has since changed tact, causing the AUM of the fund to reduce. Investors chan...