John Teahan, lead manager of the £250m Schroder Income Maximiser fund, has left the group to “pursue opportunities outside the finance industry”.
Thomas See, head of structured fund management at Schroders, has taken over the portfolio. See has supervised the fund since launch in 2005 and has worked at Schroders since 1998.
Last month the fund was switched from the IMA Specialist sector to the into UK Equity Income sector to compete with similar vehicles recently launched by other groups.
The fund holds the underlying investments of the Schroder Income fund, managed by Nick Purves and Ian Lance, but Teahan enhanced the yield by selling covered call options on the stocks. See will take over that duty.