Teahan, who has run the group’s £228m income maximiser since April 2008, is leaving the industry to persue other opportunities.
Teahan took on the management of the fund from Richard Lloyd in April 2008. Lloyd has since joined Insight to set up a rival to the income maximiser through the launch of the UK equity income booster fund.
See has over 20 years experience in the structured and derivates space and has been involved with the maximiser product since its launch in 2005. The product has exceeded its 7 per cent yield target in each of the three years since launch.
Schroders head of UK retail Robin Stoakley says: ““We are obviously sorry to see John go and wish him the very best. However, we have got a very strong Structured Investments Team and I’m delighted that Thomas See is taking over responsibility of the Schroder income maximiser fund.
We have proved that the income maximiser concept works and as the demand for income is greater than ever in this low interest rate environment, we expect it to continue to grow in size. A number of other companies have seen the attraction in offering a maximiser style product and are now launching maximiser copies. As the market leader in these types of products we welcome this expansion in the sector.”