AJ Bell removes Schroders fund from buy list after Marriage exit

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AJ Bell has removed the Schroder UK Dynamic Smaller Companies fund from its buy list following the departure of fund managers Paul Marriage and John Warren. 

It will be replaced by the Unicorn Income fund.

Ryan Hughes, head of fund selection at AJ Bell, says the pair’s departure “casts doubt on the potential future success of the fund” and expects outflows in the short term.

Fraser Mackersie and Simon Moon managed the Unicorn Income fund.

“While this fund has a slightly different emphasis given its income focus, it is very much the smaller company expertise that is the driver of returns,” says Hughes.

AJ Bell’s Favourite Funds list consists of 72 active and passive funds.

Schroders has already announced that Luke Biermann will replace Marriage and Warren on the fund following their departure to establish their own boutique firm.

Biermann is already lead manager on the European Smaller Companies fund and has worked as a fund manager and analyst in the pan European small and mid cap team for 10 years.

He will begin working with Marriage and Warren immediately as part of the transition before the pair leave in the fourth quarter.