AJ Bell dumps Schroders small-cap fund

Added 16th June 2017

AJ Bell has dropped Schroders UK Dynamic Smaller Companies fund from its favoured funds list following the resignation of its two managers earlier this month.

AJ Bell dumps Schroders small-cap fund

The future performance of the fund has been cast into doubt by the departure of its co-managers Paul Marriage and John Warren as they were “central” to its track record, AJ Bell’s head of fund selection Ryan Hughes said.

They have replaced the smaller companies fund with the Unicorn Income Fund on the favourite funds list.

Hughes said: “We made this decision because we believe that the investment approach taken by the managers at Schroders was central to the track record of the fund.

"Their departure later this year casts doubt on the potential future success of the fund, particularly as we expect the fund to suffer outflows in the short term.”

Marriage and Warren announced they will leave Schroders at the end of this year to set up their own boutique, Tellworth Investments, taking the firm’s UK Absolute Return strategies with them.

The AJ Bell list consists of 72 active and passive funds judged to offer the best funds for medium to long term growth or to provide income.

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Louise Hill

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Louise joined Portfolio Adviser in December 2016 as one of the editorial team’s news reporters based in London. Originally from Liverpool, she is an NCTJ-qualified journalist and began her career in 2014 working on local newspapers.

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