actively managed north american fund switches to quants strategy and retains fee structure
Poor performance has been cited as the main factor behind Ian Brady and Ian Cooke leaving Schroders and management of the group's active US equity funds being transferred to its investment strategy unit (ISU). Brady and Cooke joined Schroders in March 2001, along with former Perpetual manager Phil Chappell, with the task of turning around the group's US performance. However, over one year to 2 September 2002, its £7m North American Fund, managed by Cooke, is ranked 75 out of 85 funds in the North America sector, returning -32.5% compared to the sector average fall of 27.4% offer to bid...
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