Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Brookes to lead merger of Schroders and Cazenove multi-manager funds

Brookes to lead merger of Schroders and Cazenove multi-manager funds

The Schroders and Cazenove multi-manager fund range is to be merged in a move that will see the total number of funds reduced from 10 to six, with the team headed by Marcus Brookes.

The move is 'part of the continued integration of the two firms,' following Schroders' acquisition of Cazenove Capital last summer.

The seven funds in the Cazenove range will be rebranded under the Schroders banner on March 24 and moved onto its administration platform. 

The funds will be renamed with the prefix Schroder MM. For example the flagship £1.3 billion Cazenove Multi-Manager Diversity fund will be renamed as the Schroder MM Diversity fund. In the second quarter, subject to regulatory approval, the newly-named range will be combined with the three existing Schroders multi-manager funds. 

Additionally, the Managed Portfolio fund, originally part of the Cazenove range, will be merged into the Diversity Balanced fund, bringing the Schroder's multi-manager range down from 10 funds to six. 

The combined funds will be run by the Cazenove multi-manager team of Marcus Brookes, Robin McDonald and Joe Le Jehan, with Brookes and McDonald named on the factsheets.

Iain Cunningham, who has managed the merged Schroder funds for less than 12 months, will stay at the firm as a portfolio manager within the global multi-asset investments and portfolio solutions team. He will remain co-manager of Schroder ISF Global Multi-Asset Income.

Six of the seven funds in the £2.5 billion Cazenove Multi-manager range are top quartile over three years or since launch. The three funds in the existing £121 million Schroders multi-manager range are all in the bottom quartile of their lipper benchmark in the three years to January 27.

Robin Stoakley, Schroders' managing director of UK Intermediary said: 'There are a number of leading multi-managers operating in the adviser space. I believe we now have the team, the brand, the funds, the performance and the distribution reach to become the preeminent offering in the UK adviser space.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Marcus Brookes
Marcus Brookes
105/119 in Mixed Assets - Balanced GBP (Performance over 3 years) Average Total Return: 10.53%
Robin McDonald
Robin McDonald
104/119 in Mixed Assets - Balanced GBP (Performance over 3 years) Average Total Return: 10.53%
Joe Le Jéhan
Joe Le Jéhan
10/13 in Equity - Global ex UK (Performance over 3 years) Average Total Return: 30.35%
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter