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Schroder Small Cap Discovery Class Z - Accumulation (GBP)

Sell:99.20p Buy:99.20p Change: 0.26p (0.26%)
Prices as at 1 July 2022
Sell:99.20p
Buy:99.20p
Change: 0.26p (0.26%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 1 July 2022
Sell:99.20p
Buy:99.20p
Change: 0.26p (0.26%)
Prices as at 1 July 2022
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund invests in smaller businesses that are based in Asian and emerging markets or make most of their money in these areas. Smaller and more innovative businesses offer lots of growth potential, but they are higher risk because they are at an earlier stage of their development. The fund could therefore be used in a portfolio that is able to accept more volatility in search of higher potential long term returns. We think it could fit well with Asian and emerging markets funds focused on larger firms, or as part of a broader global portfolio, but should only form a smaller part of an investment portfolio.

Matthew Dobbs stepped down as manager of this fund from 1 January 2021. His long term colleagues Robin Parbrook and Alex Deane took over as the fund's co-managers. Parbrook is another veteran Asian fund manager. He has built a strong track record over the years and has a similar fund management style to Dobbs. Deane has applicable analyst experience for co-managing this fund, though this is Deane's first fund manager role, and as such he does not have his own track record.

We rate the managers and the support provided by Schroders' Asian and smaller companies teams. As always, we will continue to monitor how the fund progresses.

Our view on the sector

It's natural for UK investors to focus on funds investing in their home market. But as the world has become more connected, so has the investment landscape. There are lots of funds investing across the globe, and these can be a great way to diversify an investment portfolio. Funds in the global sector can invest anywhere in the world. But they go about this in different ways. They vary in how much they can invest in certain types of companies, sectors, countries, or regions. Some focus on developed markets or large multinational corporations, while others invest more in higher-risk emerging markets or smaller companies. Some target companies with higher-growth expectations and others search for unloved companies with the potential to recover.

Performance Analysis

Robin Parbrook joined Schroders in 1990 and managed funds investing in Asia since the early 2000s. Most recently he has managed the Schroder Asian Total Return Fund since 2007 and over this time has performed significantly better than the broader Asian stock market. He has also managed the Schroder Asian Total Return Investment Trust since 2013.

The managers tend to focus on Asian countries they think are relatively more stable, such as Hong Kong, India and Taiwan. So, this could help when these markets perform well, though the reverse is also true. A focus on smaller companies has the potential to boost growth but increase volatility compared with funds focused on larger companies.

Investment Philosophy

The managers look for companies that offer lots of growth potential but have so far been missed by most investors. They like it when they are at an early stage of their development and could benefit from using new technologies or by developing exciting new products.

Process and Portfolio Construction

Robin Parbrook and Alex Deane work closely with Schroders' Asian and smaller companies teams to help come up with ideas for the fund. They like companies supported by healthy finances, with superior corporate governance standards, which are run by quality management teams. They are prepared to be patient and invest in companies for the long term as they start to grow into larger firms.

Many developing economies are gradually switching from being export-led to focusing on domestic consumption, and the fund is focused on areas that could benefit from greater consumer spending. It is also focused on some of the relatively more stable Asian countries, including Hong Kong, India and Taiwan, though other high-risk emerging countries, such as Brazil and Mexico, also feature in the fund.

question mark Manager Track Record Based on HL Quantitative Research

  • Schroder Small Cap Discovery A Acc
  • IA Global Emerging Markets
FROM: TO:


Fund Track Record

01/07/17 to 01/07/18 01/07/18 to 01/07/19 01/07/19 to 01/07/20 01/07/20 to 01/07/21 01/07/21 to 01/07/22
Annual return 1.14% -3.09% -6.08% 42.52% -14.48%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Schroders is a member of the FTSE 100 Index and it focuses almost entirely on asset management for institutional, retail and private clients. Schroder funds incorporate all asset classes, including equities, fixed income and alternative investments. Schroder's fund managers draw on the detailed stock analysis from the group's analysts worldwide. The company has developed under stable ownership for over 200 years and long-term thinking governs its approach to investing, building client relationships and growing their business. In 2013 Schroders merged with Cazenove Capital Management to create one of the UK's largest private banking and wealth management houses.

Information about the fund

Fund manager biography

manager photo
Manager Name: Richard Sennitt
Manager start date: 15 March 2012
Manager located in: London

- Joined Schroders in 1993 - Investment career commenced in 1993 - Currently a fund manager for Pacific Equity and Global Small Cap Equity accounts, based in London - In 2007, whilst maintaining specialist Pacific fund management responsibilities, Richard joined the Global Small Cap team. In 1997 he moved onto the Pacific team, where he had a broad exposure to both developed and emerging markets as a regional fund manager. Richard initially joined Schroders in 1993 as an analyst on the Japanese equity team - Associate member of the UK Society of Investment Professionals (UKSIP). Member of the CFA Institute - BA, Oxford University

manager photo
Manager Name: Matthew Dobbs
Manager start date: 15 March 2012
Manager located in: London

- Joined Schroders in 1981 - Investment career commenced in 1981 - Currently Head of Global and International Small Cap Equities and advisor to the Global and International Equity team. Manages Pacific Equity portfolios as well as Global and International Small Cap portfolios. Based in London - Matthew has been based in Schroders' London office since 1999. In 1996 he was seconded to Singapore as Managing Director of Schroder Investment Management in South East Asia. In 1987 Matthew took over responsibility for managing Pacific Equity portfolios in London. From 1985 he was Head of the Investment Division in Singapore and a fund manager. In1983 Matthew was seconded to New York. His investment career began in 1981 upon joining Schroders as a UK equity analyst - BA in History and Economics, Oxford University

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account