Schroders fund managers Paul Marriage and John Warren are to exit the firm and establish their own boutique, taking the UK Dynamic Absolute Return fund with them.
The pair will transition the funds to their new boutique, Tellworth Investments, in the fourth quarter, partnering with fund distributer BennBridge.
Schroders head of UK and European equities Rory Bateman says clients will be able to remain fully invested in the funds with no change of manager or investment process.
“I’m delighted that Schroders will be able to continue the successful relationship with Paul and John while enabling them to pursue their personal ambition of starting their own company,” Bateman says.
BennBridge is a part of multi-boutique Australia asset manager Bennelong Funds Management and opened its London office late last year.
Tellworth Investments will become its first boutique client.
Chief operating officer Greg Thomas says: “Paul and John stood out in terms of their pedigree, extensive experience, robust investment process and excellent long term track record.
“Since last summer we have been working to build a strong distribution, marketing, compliance and operational platform, which is now in place and awaiting FCA authorisation.”