Yeadon quits Schroders after plan to combine multi teams

10 February 2011 | By Chris Salih

Schroders head of multi-manager Andrew Yeadon has left the firm after the group set out plans to merge the multi-manager and multi-asset teams.

The combined multi-asset team will manage the multi-manager cautious managed, strategic balanced and high- alpha funds under the management of senior investor Johanna Kyrklund.

Yeadon joined Schroders in 2000 and has been head of the multi-manager team since 2003. All three multi-manager funds have underperformed in their sectors over three years.

According to figures from Morningstar to January 31, the £147m MM cautious managed fund is third quartile in the IMA cautious managed sector over three years, returning 8.2 per cent. The £88m MM strategic balanced fund is fourth quartile in the balanced sector, having returned 4.8 per cent over three years, while the £34m MM high- alpha fund is also fourth quartile over three years in the active sector, with 5.3 per cent.

Schroders managing director (UK intermediary) Robin Stoakley says: “Combining these teams means clients will have access to our highly rated, institutional quality asset allocation and portfolio construction processes which are employed on our multi-asset portfolios.

“There will also be benefits of scale, for example, participating in asset classes that have minimum entry hurdles and a stronger negotiating position on fees for external managers. The new team will have about £14.45bn of assets under management.”

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