Steve Cordell, who currently manages the fund and joined Schroders in July 2013, is to be replaced by Andrew Lyddon (pictured) and Andrew Evans.
The fund has delivered fourth-quartile performance over one and three years with returns of 2.9% and 19.3% compared to 5.3% and 26.8% against the IA Europe excluding UK sector, according to FE Analytics.
Schroders European Opportunities performance
| 1yr | 3yr | 5yr | |
| Schroder European Opportunities | 2.9% | 19.3% | 59.8% |
| IA Europe Excluding UK | 5.3% | 26.8% | 58.1% |
| FTSE World Europe ex UK | 4% | 24.2% | 58% |
Source: FE Analytics
Cordell will continue to manage the Schroder European Equity Absolute Return Fund, Schroder ISF European Equity Absolute Return and the Schroder ISF European Opportunities.
Lyddon joined Schroders as a graduate in 2005 and spent much of his time on the UK equities team. Between 2006 and 2010, he was a research analyst before moving on to join Kevin Murphy and Nick Kirrage on the UK value team.
Evans joined the firm in 2015 as a member of the value investment team.
From Opportunities to Recovery
As part of the changes, the fund, which launched in 1989, is to be renamed the Schroder European Recovery Fund with effect from 14 May 2018.
A Schroders spokesperson said: “The Fund currently adopts a ‘business cycle’ approach to investing, where the investment manager seeks to identify turning points in the business cycle and then focuses on the types of companies that will benefit from such events.
“From 14 May, the fund will adopt a ‘recovery’ investment style which focuses on companies that the investment manager believes are undervalued relative to their long-term earnings potential.”
