Previously the fund was managed by Alex Smitten.
The Cazenove UK Corporate Bond Fund is due to change its name to the Schroder UK Corporate Bond Fund on 24 March as part of the ongoing integration of the two firms. Smitten will continue to manage wealth management mandates in Schroders’ fixed income team.
Stewart is currently the manager of the Schroder Corporate Bond Fund and has managed this fund since 1 August 2012.
In addition, following Schroders’ acquisition of Cazenove Capital and the continued integration of the two firms, the Schroder Corporate Bond Fund will be merged into the Schroder UK Corporate Bond Fund (currently named Cazenove UK Corporate Bond Fund). Both funds currently have a similar objective of seeking to deliver income and therefore, subject to shareholder and regulatory approval, the funds will be merged in the second quarter of this year.
“Following the acquisition of Cazenove Capital by Schroders last year, we are looking to simplify the combined range. The Cazenove UK Corporate Bond Fund and the Schroder Corporate Bond Fund have similar objectives. The Cazenove fund is the larger of the two funds and was launched four years prior to the Schroder fund. As a result we have made the decision to merge the Schroder fund into the existing Cazenove fund,” Robin Stoakley, managing director of UK intermediary, confirmed.
