Schroder Investment Management Ltd has announced several changes to portfolio management responsibilities within their Global Value Team, effective 1 November 2022. The Schroder Recovery and Schroder Global Recovery funds, both featured within The Adviser Centre, are impacted by the changes.  In summary:

• Nick Kirrage, co-head of the Global Value team, will step down as co-manager of the Income and Recovery strategies in order to focus on the global fund range, which includes the Global Recovery fund.  Kevin Murphy, co-head of the Global Value team, will remain on the Recovery and Income strategies.
• Andy Evans and Andrew Lyddon, established members of the Global Value team, will continue to work with Kevin Murphy on the UK equity funds.  Mr Lyddon will focus solely on pan-European equities, stepping down as co-manager of the Global Recovery fund.
• Liam Nunn, who has been deputy manager on the Global Recovery fund since February 2020, will become co-manager of the fund.

There are no changes to the team’s focused value approach.  They continue to look for companies that have had significant operational and/or share price setbacks but have the potential to recover over the long term.

We have been covering the funds and the team for many years and, given the disciplined and collegiate approach that underpins the management of the fund suite, our Established and Recommended endorsements are being maintained.