Premier nabs Schroders manager for income fund shake up

Premier Asset Management has hired Schroders fund manager Geoff Kirk to co-manage its Optimum Income fund, where he will replace manager Chris Wright and will be joined by a new co-manager Chris White.

Kirk, who was responsible for managing the Schroder Income Maximiser range of funds, is expected to join Premier in July.

The fund uses a mix of traditional company dividends and an options strategy.

Kirk will focus on total dividend management through a call option overlay strategy, with new co-manager White, not to be confused with outgoing manager Chris Wright, continuing focussing on his income and value focused investment approach.

White is the manager of the Income, Monthly Income and UK Growth funds.

Wright, who started managing the fund as an enhanced UK equity income strategy in March 2013, will continue to run the Premier Ethical fund.

Before his decade-long tenure at Schroders, Kirk worked as a senior portfolio analyst at State Street Global Advisers.

The Optimum Income fund has a historic yield of 7.1 per cent. Since Chris Wright started managing the fund as a UK equity income strategy in March 2013, the fund has achieved total returns of 49 per cent compared with 33 per cent for the FTSE All-Share Index.

Schroders says Kirk’s responsibilities will be absorbed by the existing team, including five portfolio managers, which is led by Mike Hodgson, head of risk managed investments and structuring.

His employment will end in June.