Silver-Rated Rosemary Banyard to Leave Schroders

Rosemary Banyard, manager of two Silver Rated funds has announced she will be leaving Schroders next March. Morningstar analyst Sam Meakin advises investors not to panic

Emma Wall 6 October, 2015 | 1:33PM
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Emma Wall: Hello and welcome to the Morningstar series, Ask The Expert. I'm Emma Wall and I'm joined today by Sam Meakin, Fund Analyst for Morningstar.

Hi, Sam.

Sam Meakin: Hi, Emma.

Wall: So we're here today to react to the news that Rosie Banyard is leaving Schroders. She is highly revered, highly respected and a high performance from this manager, who runs small and mid-cap money, doesn't she? Which funds does she run?

Meakin: That's right. She is the lead manager on the Schroder Mid Cap UK Investment Trust and co-manager alongside Andy Brough on the Schroder UK Smaller Companies Fund.

Wall: Obviously, it's always a blow to lose a good fund manager from a fund. However, people should not panic because she's not leaving until March 2016, end of March 2016. What should investors do?

Meakin: Well, that's right. There's no need to panic over that period until the end of March next year. There is going to be a transition period, whereby Andy Brough will become the lead manager on those two vehicles. So, as you say, no need to panic for investors. We hold Rosemary in very high regard, obviously, and that's reflected by the Silver ratings on those two funds currently.

Wall: They will, of course, go under review following this announcement?

Meakin: That's right. It is a shame to see Rosemary go. She had a lot of input into that team. We feel that she worked well with Andy. They've been working together for a long period of time now. And her influence in the team was important. So, we just need to ascertain going forward, what's going to change and how Andy intends to run those funds.

Wall: So, presumably you will be meeting with Andy Brough and watching what's happening over the next six months before you make a decision on what to do about the rating?

Meakin: That's right. And Andy also runs the Schroder UK Mid 250 fund which is also focused on mid cap, it is an open-ended vehicle. And while there are similarities between that fund and the Mid Cap Investment Trust there are also some quite significant differences at the stock level. So we are going to try and investigate what he plans to do there as well.

Wall: Worth noting, however, he is a very experienced fund manager in this arena and so she is not exactly handing off to an unknown?

Meakin: That's right. He is a very well-known manager in his own rights.

Wall: Thank you very much, Sam.

Meakin: Thank you.

Wall: This is Emma Wall for Morningstar. Thank you for watching.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Schroder UK Mid Cap Ord682.01 GBP-0.29Rating
Schroder UK Smaller Companies A Acc54.58 GBP-0.24Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar