Fund managers Paul Marriage and John Warren would transition to BennBridge in the fourth quarter of 2017 where they would continue to manage both strategies. The investment objectives of the funds would not change as a result.
Branded as Tellworth Investments LLP, Paul Marriage and John Warren would cease to be employees of Schroders at that time.
It is anticipated that SAS UK Dynamic Absolute Return Fund will migrate onto the Schroder GAIA platform in the future. The Schroder GAIA platform consists of alternatives funds whereby Schroders acts as distributor with a third party as investment manager.
Greg Thomas, Chief Operating Officer at BennBridge, said: “I am very pleased that Tellworth Investments is set to become BennBridge’s first boutique, and we look forward to working closely with Tellworth and Schroders to support the two funds. Having established the BennBridge business in London at the end of last year, we have since met with a large number of potential investment partners. Paul and John stood out in terms of their pedigree, extensive experience, robust investment process and excellent long term track record. Since last summer we have been working to build a strong distribution, marketing, compliance and operational platform, which is now in place and awaiting FCA authorisation, and which provides a strong foundation for BennBridge’s future growth.”
Schroders’ Head of UK and European Equities Rory Bateman, said: “I’m delighted that Schroders will be able to continue the successful relationship with Paul and John while enabling them to pursue their personal ambition of starting their own company. This will enable our clients to remain fully invested in these funds with no substantive change of manager or investment process. We look forward to continuing to work with Paul and John, as well as the BennBridge team.”
Paul Marriage, Head of UK Dynamic Smaller Companies, 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.”
Further information can be found at:
* Schroder Absolute Return Fund Company
** Schroders Alternative Solutions