The pair currently manage Schroders’ UK Dynamic Absolute Return strategy and will take both the on and offshore versions of the fund with them to their new firm, Tellworth Investments LLP.
Tellworth Investments will come under the umbrella of BennBridge, a firm launched in December last year offering structural support to fledgling boutique asset managers.
The UK Dynamic Absolute Return Fund is expected to be distributed via the Schroder GAIA platform in the future.
Marriage said: “We are pleased to be able to continue our relationship with Schroders, whilst at the same time pursuing a personal ambition to start our own business, Tellworth Investments.
“We remain fully committed to our clients and look forward to working with them, Schroders and the team at BennBridge in the future.”
However, the loss of the two managers from the UK Dynamic Smaller Companies Fund has prompted Chelsea Financial Services to downgrade from buy to a hold.
Chelsea managing director Darius McDermott said: “This will be a bit of a blow for investors, as Paul and John have been at the helm of this fund for many years, both at Schroders and before that at Cazenove.
“Given that long period of stability, investors will now be looking for reassurance that the fund’s strategy, which has significantly outperformed both its benchmark and its peers under Paul and John’s tenure, will continue with minimal interruption.”
