Following the merger of the portfolio solutions business formed back in June with the structured finance arm, Schroders said See’s role as head of structured finance was no longer required.
See is the original innovator behind Schroders’ open-ended structured fund business, which gave way to the £950m Income Maximiser fund he co-managed.
The Maximiser fund range spans a number of products with portfolios concentrated in the Asian, European and property markets. The funds are characterised by a derivatives overlay, which See looked after, and an underlying equities component.
Kevin Murphy and Nick Kirrage who oversee the UK equity component of the Income Maximiser fund will continue on in their roles as before.
Mike Hodgson will take up the reins of the newly combined platform and assume See’s prior responsibilities.
According to a Schroders spokesperson, See's departure will note mean a change to the process or philosophy of the Maximiser funds.
The Schroders spokesperson added that the integration of the portfolio solutions business with the structured fund management arm was a natural progression that was important for the growth of the company.