The full line-up of Cazenove Capital’s managers and their funds will move over to Schroders as part of the planned acquisition of the asset manager.
This morning, the boards of the two companies announced that they have reached an agreement for Schroders to buy Cazenove for about £424m. The deal is subject to shareholder and regulatory approval.
A statement issued by the groups says: “Cazenove Capital’s highly-rated portfolio managers in UK and European equities, fixed income, multi-manager and absolute return strategies, will join Schroders’ existing strong investment team.”
Cazenove confirms that this means its current fund range and fund manager responsibilities are intended move over to Schroders after the deal. There will be no change to the funds’ investment processes, investment objectives or performance targets.
Cazenove’s team includes Cazenove UK Opportunities manager Julie Dean, Cazenove UK Smaller Companies manager Paul Marriage and Cazenove UK Equity Income manager Matthew Hudson.
It also has a respected multi-manager team comprising Marcus Brookes, Robin McDonald and Joe Le Jehan, while Chris Rice heads the firm’s highly regarded European equity funds.