Gareth Isaac, manager of the Schroders Strategic Bond fund and a range of other mandates, is to leave the business.
Mr Isaac, who joined Schroders in 2011 from GLG, is leaving to pursue other opportunities, Schroders said in a statement.
His fund management responsibilities will be taken on by senior portfolio manager Paul Grainger and head of global macro strategy Bob Jolly.
The fund house said it intended to strengthen its 40-strong fixed income team in light of Mr Isaac’s departure.
The manager’s £106m Strategic Bond fund, which he has run since launch in 2012, has underperformed its sector over the past three years. The product has returned 11.6 per cent compared with a peer group average of 17.7 per cent over that period, according to FE Analytics.
