Purves and Lance exit Schroders for RWC Partners

The £1.5bn Schroder Income fund will be taken over by Schroder Recovery fund managers Nick Kirrage and Kevin Murphy, and the duo will also work alongside Thomas See on the Income Maximiser fund. Both Kirrage and Murphy work alongside Lance and Purves on Schroders' Specialist Value UK Equity team. The Recovery fund has about a 50-60% overlap with the Income fund. At RWC, Purves and Lance will manage both the Value and Income funds. It is the second recent high profile capture for the group, after recruiting Mike Corcell from Threadneedle last year. Purves joined Schroders in 1994 fr...