Schroders is set to change its UK Absolute Target fund so its manager Steve Cordell can invest more widely across Europe.
The group said the fund would soon be renamed European Absolute Target, a move which is being made because of Mr Cordell’s “vast amount of experience investing in Europe”.
The fund will continue to invest in the UK as well, the group said, but the change means the manager can use his knowledge of European markets in the fund.
Mr Cordell manages four European equity funds for the group.
The UK Absolute Target fund was run by Julie Dean, but the manager left last year to join her former Cazenove colleagues Tim Russell and Chris Rice at Sanditon Asset Management.
