Schroders fund manager Jamie Lowry is to exit the firm after almost 12 years, Fund Strategy can reveal.
The fund manager, who will leave the company in the summer, is a member of the seven-person investment value team at the group, which manages more than £12bn in assets.
Lowry has been managing the firm’s €760m (£596m) International Selection Fund European Equity Alpha fund since 2010, but has been working at Schroders since 2004, starting as a research analyst.
In 2007, Lowry became a co-manager on the fund taking on sole responsibility in May 2010. He also co-manages the firm’s European Yield alongside colleague Ian Kelly.
In November 2013, Lowry and Kelly also took over management of the group’s £128.3m Global Equity Income fund from Sonja Laud after her departure from the group. They also co-manage the firm’s ISF Global Equity Yield fund.
A Schroders spokeswoman said Lowry’s current fund management responsibilities will be shared across the investment value team and there are no planned changes to the investment objectives of any of the funds.
As a result of the move, Kelly will continue to manage the global yield portfolios.
Current Global Recovery co-manager Andrew Lyddon and fund manager Andrew Evans will manage the European Yield fund alongside Kelly and will become co-managers on the European Equity Alpha fund.
The European Equity Alpha fund has lagged the European Equity sector including the UK over the past year, returning a 3.3 per cent loss compared with a loss of 2.2 per cent for the sector, according to FE.
“Jamie Lowry, a fund manager within Schroders’ Global Value team, will leave Schroders by the summer to pursue other opportunities. We thank Jamie for his contribution over the past 12 years and wish him well for the future,” says the spokeswoman.
Lowry joined Schroders in 2004 as an equity analyst in the European Equity team, initially specialising in the industrial sectors. He then focused on consumer-based companies and insurance.