Veteran fund manager Matthew Dobbs is to retire from the asset management industry next year after 40 years at Schroders.
Mr Dobbs joined the value fund house in 1981 as an equity analyst and has managed the firm’s Asian equity portfolios since 1985.
He runs the Schroder Asian Alpha Plus fund alongside two investment trusts, Schroder Asia Pacific and Schroder Oriental Income. Mr Dobbs also co-manages the Schroder Global Smaller Companies and Small Cap Discovery funds.
An update to investors from the Schroder Oriental Income trust, published today (August 24), said Richard Sennitt would take over responsibility for management of the company’s portfolio from the end of 2020 in line with the trust’s “long-term succession plan”.
Chairman Peter Rigg said: “I am pleased that Richard will take over management of the Oriental Income Fund portfolio.
“As a longstanding part of Matthew's team he is well known to the board. He provides ideal continuity to the investment approach that has made the company the largest Asian income investment trust.”
Mr Rigg said the board was “very grateful” for all the work Mr Dobbs had done for the company and its shareholders and wished him the very best for retirement.
Mr Sennitt will also take over as manager of the Schroder AsiaPacific investment trust.
Stock exchange filings from the board announced today that Mr Sennitt and Abbas Barkhordar would assume formal responsibilities as manager and assistant manager respectively from March 31, 2021.
The trust’s chairman, Nicholas Smith, said: “Matthew has managed our portfolio since the company's launch 25 years ago and the board would like to thank him for his outstanding contribution to establishing the company in the FTSE 250 and as the largest in its AIC sector. We wish him well for his retirement.”
He added that Mr Sennitt was the “natural successor” to bring continuity of approach, having worked closely with Mr Dobbs for the last 13 years, and the board believed the arrangements helped ensure the “long-term success” of the company.
Mr Sennitt — who joined Schroders in 1993 — runs the Schroder Asian Income fund and co-manages the Global Smaller Companies, Asian Income Maximiser and Small Cap Discovery funds.
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