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Rating:Schroders Expands Team, Shuffles Funds in U.S. Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 31, 2006

Schroders Expands Team, Shuffles Funds in U.S.

Reported by Marie Glancy

Schroders is continuing to expand and refine its North American operations. On Friday the London-based global asset manager announced it has added two new hires to its U.S. sales team, and also unveiled changes to its North American fund line-up.

E. Ross Servick and William MacCarter "Carter" Sims will help build the intermediary business of Schroders Investment Management North America. Servick has been named senior vice president and head of investment sales, and comes to Schroders from Managers Investment Group. Information on his successor there was not immediately available. Previously, Servick worked for MFS Investment Management.

Sims will serve as senior vice president and head of channel sales. He joins Schroders from Columbia Fund Distributors, where he served as managing director in charge of specialty distribution. A spokesperson for Columbia said that no replacement, as such, has been named to fill his position. In the past, Sims worked for Gartmore Global.

Jamie Dorrien-Smith, global head of financial institutions at Schroders, will guide the company's intermediary push in North America. In a press release, Dorrien-Smith said Servick and Sims are "perfectly suited to leading the team and accelerating Schroders' growth in the U.S."

Meanwhile, in an effort to increase and improve its U.S. fund family, Schroders has added to new offerings, closed another, and renamed a fourth.

The Schroder U.S. Small and Mid Cap Opportunities Fund will be managed by Jenny Jones and the firm's New York-based small- and mid-cap team. It targets companies with market capitalizations between $1 billion and $7 billion, and will be benchmarked against the Russell 2500. The Schroder Emerging Markets Equity Fund will be managed by the company's London-based emerging markets team, overseen my Allan Conway, and will be benchmarked against the MSCI Emerging Markets (Gross) Index. Both funds launched Friday.

The company has opted to liquidate its Schroder U.S. Large Cap Equity Fund on or about April 27. Spokesperson Martin Luz said that despite strong showings recently, the fund's "long-term historical track record is pretty poor, which effects its marketability. Right now, we're just going to go with the North American Equity Fund, which is also a U.S. large cap fund."

Finally, the firm's international equity fund is now known as the Schroder International Alpha Fund, a change intended "to reflect the firm's global branding," according to the press release.  

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