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Schroders picks Japan chief to replace Rose

Schroders has appointed its third head of Japanese equities in three years after Andrew Rose stepped down from the role and returned to the UK.

Rose has been replaced by Shogo Maeda but will cont- inue to run Schroders’ flagship Tokyo fund from the firm’s London offices. Rose returns for family reasons after taking over from Denis Clough in 2004.

Over five years, the fund ret-urned 28.4 per cent against a sector average of 10.8 per cent but over one year, it is up by 27.9 per cent against an average of 38.4 per cent.

Maeda joins from Goldman Sachs Asset Management in Japan, where he was CIO of Asia Pacific equities. Schroders has 13 fund managers on its Japan team, with four based in the UK.

Schroders spokesman Rich-ard King says: ” His move is not a demotion. He and Schroders both feel it is inappropriate for him to continue as head of Japanese equities when most of the team is based in Tokyo.”

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