Schroders Personal Wealth (SPW) has launched three multi-manager fixed income funds.
The funds invest in sovereign bonds, investment grade bonds, and high income and emerging market debt using seven underlying managers – Pimco, Wellington, Blackrock, Schroders, Barings, Bluebay and T Rowe Price (see table below).
SPW will be responsible for setting the mandate and have oversight for the range, while Schroders Investment Management will be responsible for managing the investments.
It is the second range of funds the wealth manager has launched on its own authorised corporate director (ACD) after it unveiled six risk-rated multi-asset portfolios in July last year. The ACD was set up in December 2019.
SPW Multi-Manager fixed income funds and underlying managers
| Fund | Managers |
| SPW Global Sovereign bond | Pimco |
| Wellington | |
| SPW Global Investment Grade fund | Pimco |
| Wellington | |
| Blackrock | |
| Schroders | |
| SPW Global High Income & Emerging Market Debt fund | Barings |
| Bluebay EMD | |
| T Rowe Price | |
| Bluebay HY |
‘Another big milestone’
Schroders Personal Wealth chief investment officer Marcus Brookes (pictured) described the launch as “another big milestone” for Schroders Personal Wealth.
He said: “Our ACD funds are designed specifically for SPW clients with the aim of meeting their needs. This means that we set our mandates to ensure that any risks are appropriate for our clients and means we won’t invest in instruments or markets that we aren’t happy with.
“The SPW Multi-Manager fixed income funds have been launched to ensure we have more management, flexibility and greater control of our client’s assets.”
SPW was launched in June 2019 as a joint venture between Schroders and Lloyds. In June last year it announced former Openwork boss Mark Duckworth (pictured) as its chief executive, replacing Peter Hetherington who was in the role for less than a year.
At the end of last year, the firm announced it was cutting several roles as part of the “next phase of our journey” as it achieves operational independence from Lloyds Banking Group. It did not say which areas of the business would be affected or how many roles were at risk.
Earlier this month it was reported that investors pulled £200m from SPW in 2020.
