Schroders has moved to hard close Paul Marriage's popular long/short Cazenove Absolute UK Dynamic fund in order to preserve performance.
The fund, run by Marriage (pictured) and co-manager John Warren, has a bias towards mid and small cap stocks, and has delivered some very strong numbers since launch back in 2009. In the last three years the fund has returned 49% (according to Trustnet) versus the Targeted Absolute Return sector average of 8.9%. Performance helped the fund grow to £367.1m by the end of September. Given its exposure to the smaller companies in the market - it has net exposure of almost 40% to small cap and AIM stocks at present - the group has opted to hard close the product. Robin Stoakley, mana...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes