Advisers and multi-managers are reviewing their holdings in the top-performing Schroder Income and Income Maximiser funds following the surprise resignations of Nick Purves and Ian Lance this week.
Purves and Lance, the managers of the popular products, left Schroders with immediate effect on Monday to take up a role at boutique RWC Partners. The £1.52bn Schroder Income and £611m Income Maximiser funds, which are in a number of multi-manager portfolios and adviser recommendation lists, have been taken over by Nick Kirrage and Kevin Murphy. Kirrage and Murphy, who run the £271m Schroder Recovery fund, will also work alongside Thomas See on the Income Maximiser product. Adviser reaction to the duo's departure was mixed, with many such as Whitechurch Securities initiating an imm...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
