Schroders multi-asset fund manager departs

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Multi-asset fund manager Iain Cunningham will leave Schroders in June after nine years at the firm.

Cunningham currently manages the Schroder Global Multi-Asset Income, ISF Global Multi-Asset Allocation and ISF Global Multi-Asset Income funds.

Aymeric Forest, who joined Schroders as head of multi-asset in Europe in 2011, will continue to be the lead manager across its global multi-asset income funds.

He will be supported by the multi-asset investments and portfolio solutions (MAPS) team.

“There are no planned changes to the investment objectives or investment process of any impacted funds,” the company said in a statement.

The Schroder ISF Global Multi Asset Allocation saw returns of 36 per cent over five years compared to the sector average of 15.7 per cent, although its returns for the last year were -3.8 per cent compared to the sector average of -1 per cent.

The Schroder ISF Global Multi-Asset Income fund saw returns of -0.08 per cent over three years and -6.68 per cent over the past year, compared to sector averages of -2.34 per cent and -2.65 per cent respectively.

Schroders said: “Our MAPS team of over 100 investment professionals will ensure that we continue to deliver the investment solutions and performance our clients expect.”

Just yesterday, Schroders announced the departure of another fund manager, Jamie Lowry, who has been managing the firm’s International Selection Fund European Equity Alpha since 2010. He had been with the firm since 2004, starting as a research analyst.