The name change reflects the fact that the fund has dropped the call options aspect dubbed the ‘maximiser overlay’, in order to tilt the fund more towards capital growth.
The fund targets a yield of 7% per year and this is set to fall to between 4% and 5%.
Many aspects of the fund remain the same such as targeting real estate securities and REIT investments, and co-managers Thomas See and Hugo Machin remain in place.
“We regularly review our fund range and the objectives of those funds to ensure that we are offering our clients the best proposition,” said a Schroders spokesperson. “We will be making some changes to the investment process of the Schroder Global Property Income Maximiser in the first quarter of 2016, subject to shareholder approval.”
“It is proposed that the fund’s investment focus changes to investing globally in a liquid portfolio of real estate equities. The maximiser overlay strategy will no longer be used and, consequently, we expect that the fund’s income yield will be reduced but that there will be potential for improved capital and income growth over time.”
