Schroders is abandoning smaller company investments on its US Small and Mid-Cap fund and re-naming the vehicle.
The group says that since the launch of the portfolio in April 2005, it has held a larger proportion of mid-caps and therefore the fund will be re-named Schroder US Mid Cap.
It will no longer invest in smaller companies and the objective will be changed to reflect this. However, as the investment approach is not changing, the fund will retain its record.
Investors looking for access to American smaller companies can still use the US Small Cap fund run by the same manager, Jenny Jones.
Schroders suffers fund outflows