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Schroder US Smaller Companies & Schroder US Mid Cap Funds - Jenny Jones has retired

Richard Wood | Thu 04 April 2019

Investments can go down as well as up so there is always a danger that you could get back less than you invest. Nothing here is personalised advice, if unsure you should seek advice.

Jenny Jones retired as manager of the Schroder US Smaller Companies Fund and Schroder US Mid Cap Fund on 31st March 2019. She managed the Smaller Companies fund for 17 years and the Mid Cap fund for 14.

Robert Kaynor replaces Jones as lead manager of both funds. He’s co-managed the funds with Jones since 2013. He’s got 25 years’ experience and worked for a number of US hedge funds before he joined Schroders.

Our view

Kaynor’s very experienced, but these funds are different to the ones he’s worked on previously. We’d like to see him build a successful track record before considering the funds for the Wealth 50 list of our favourite funds across the major sectors.

Performance & outlook

Kaynor won’t change the way either fund’s invested. They’ll be partly invested in companies he believes can deliver strong growth, partly in out of favour companies whose fortunes are expected to improve, and some will be invested in “steady eddy” companies. These sell products and services their customers need regardless of economic conditions, but their future growth potential might be lower than others. The funds can hold derivatives which increases risk.

This approach paid off for Jones over a successful career. Blending the steady eddies with turnaround and growth opportunities means her funds often haven’t kept up with a rising market but have provided some shelter when markets fall. The past won’t always repeat itself though and smaller companies, which can be held in either fund, are higher-risk than larger ones.

Annual percentage growth
Mar 14 -
Mar 15
Mar 15 -
Mar 16
Mar 16 -
Mar 17
Mar 17 -
Mar 18
Mar 18 -
Mar 19
Schroder US Smaller Companies 28.0% -4.1% 43.4% -4.5% 11.6%
Russell 2000 21.5% -6.8% 45.1% -0.4% 9.9%

Past performance is not a guide to the future. Source: Lipper IM to 31/03/19

Annual percentage growth
Mar 14 -
Mar 15
Mar 15 -
Mar 16
Mar 16 -
Mar 17
Mar 17 -
Mar 18
Mar 18 -
Mar 19
Schroder US Mid Cap 30.1% 1.3% 39.9% -5.3% 11.5%
Russell 2500 23.6% -4.3% 39.7% 0.1% 12.5%

Past performance is not a guide to the future. Source: Lipper IM to 31/03/19

FIND OUT MORE ABOUT SCHRODER US SMALLER COMPANIES FUND INCLUDING CHARGES

SCHRODER US SMALLER COMPANIES KEY INVESTOR INFORMATION

FIND OUT MORE ABOUT SCHRODER US MID CAP FUND INCLUDING CHARGES

SCHRODER US MID CAP KEY INVESTOR INFORMATION

Important information - Please remember the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. This article is provided to help you make your own investment decisions, it is not advice. If you are unsure of the suitability of an investment for your circumstances please seek advice. No news or research item is a personal recommendation to deal.


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