The fund has been renamed the US mid-cap fund after the majority of investments since its launch in April 2005 were made in the this part of the market.
The investment approach of the fund, which is run by Jenny Jones, will not change as a result of the move.
Schroders head of UK retail Robin Stoakley says: “The experience and expertise of our US Mid cap team is second to none. Jenny is a very well recognised name in the US mid cap area and she continues to demonstrate her extensive knowledge and experience with impressive returns. Her team has demonstrated their skills through both bull and bear market cycles and it is their ability to deliver year on year which has proved critical to adding real value for our clients.”