Schroder Investment Management has been sacked from an active Japanese equity mandate worth around £200m (€290m) and replaced with Nomura Asset Management. JF Asset Management has been brought in to takeover a £125m Asia Pacific brief from Invesco.
Steven Daniels, managing director of Liverpool Victoria, said. “It wasn’t particularly that Schroders have had a poor long term performance record, but they exhibited high volatility against the benchmark we were measuring them with. Schroders’ value-orientated style means they are either very right or very wrong.” He also cited the departure of Dennis Clough from the role of managing Schroders’ Japanese equities. RM
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