Jenny Jones, who jointly runs £2.3bn across the Schroders US Small Cap and Mid Cap funds, is to retire later this year.
The Schroders US Small cap fund has returned 77 per cent over the past five years, compared with 66 per cent for the sector average. Ms Jones has run the fund since 2002.
An announcement from Schroders stated that Bob Kaynor, co-manager of the funds, is to become head of US Small and Mid Cap Equity at the firm and succeed Ms Jones as lead manager of the funds.
Mr Kaynor had been co-manager of the funds since January 2018, and a Schroders employee since 2014.
Nicky Richards, global head of equities at Schroders, said: "Jenny Jones will continue in her role as fund manager and head of the team until March 31.
"During this time, a comprehensive handover of responsibilities will be completed. After this time, Bob will take on leadership of the team and Jenny's portfolio."
Darius McDermott, managing director at Chelsea Financial Services, said: "This is a fund we rate. The fact that a co-manager who already knows the portfolios is taking over strikes us as a good example of succession planning."
david.thorpe@ft.com
