Schroders is to rebrand Cazenove’s multi-manager funds as part of an overhaul which will also see four funds merged away.
The FTSE 100-listed fund manager, which completed its acquisition of Cazenove in July last year, is to ditch the Cazenove brand from seven multi-manager products, run by Marcus Brookes, Robin McDonald and Joe Le Jehan. The rebrand will take effect from March 24.
Schroders’ own trio of multi-manager funds, run by Rob Hall until his departure last year, will be merged into the Cazenove range in the second quarter of 2014. In addition, the £61.2m Cazenove Managed Portfolio fund will also be merged away.
Iain Cunningham, who currently manages the Schroders multi-manager funds, will remain with the company wokring within the multi-asset team, which runs products including the Dynamic Multi-Asset fund and the offshore Global Multi-Asset Income fund.
Robin Stoakley, managing director of UK intermediary at Schroders, said: “A number of advisers in the UK are now outsourcing a significant proportion of portfolio management responsibility. It is a growing trend and one I would expect to see continue, with multi-manager as an integral part of it.
“There are a number of leading multi-managers operating in the adviser space. I believe we now have the team, the brand, the funds, the performance and the distribution reach to become the preeminent offering in the UK adviser space.”
The new fund names are:
| Old name | New name from March 24 |
| Cazenove Managed Portfolio | Schroder MM Managed Portfolio |
| Cazenove Multi-Manager Diversity | Schroder MM Diversity |
| Cazenove Multi-Manager Global | Schroder MM International |
| Cazenove Multi-Manager UK Growth | Schroder MM UK Growth |
| Cazenove Diversity Income | Schroder MM Diversity Income |
| Cazenove Multi-Manager Diversity Tactical | Schroder MM Diversity Tactical |
| Cazenove Multi-Manager Diversity Balanced | Schroder MM Diversity Balanced |
The planned mergers, subject to regulatory and investor approval, are:
| Fund | To be merged into |
| Schroder MM Managed Portfolio | Schroder MM Diversity Balanced |
| Schroder Multi-Manager Cautious Managed | Schroder MM Diversity Income |
| Schroder Multi-Manager High Alpha | Schroder MM Diversity Tactical |
| Schroder Multi-Manager Strategic Balanced | Schroder MM Diversity Balanced |
