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Schroders announces departure of Julie Dean

Wednesday 10th September 2014

Schroders has announced the departure of Julie Dean, whose predominant role was managing the Schroder UK Growth Investment Trust.
After joining at the time of the acquisition of Cazenove, Dean also managed the UK Opportunities fund since 2002, over which time she returned 314% compared to 190% from the FTSE All-Share.
Matt Hudson will take over the UK Opportunities fund. He currently manages the Schroder UK Alpha Income fund and has returned 125% since the fund was launched in May 2005, compared to the FTSE All-Share which has returned 103%.
Commenting on the change, Laith Khalaf, Senior Analyst at Hargreaves Lansdown said: “Schroders’ take-over of Cazenove has actually gone quite smoothly when you consider there was a considerable level of overlap between the two businesses, in some ways it is surprising there have not been more departures. 
“Dean will certainly be a loss for Schroders as she has built up a strong track record over the years. Hudson, who takes over UK Opportunities fund, is himself developing an encouraging performance record. Perhaps more scrutiny will be focussed on the decision for the investment trust board to keep faith with the Schroders business cycle team, after backing Dean when Buxton left to join Old Mutual,” he added.

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