Yeadon MM funds convert to Nurs for a wider mandate

Schroders is converting Andrew Yeadon's multi-manager range to Nurs to broaden its reach to alternat...

Schroders is converting Andrew Yeadon's multi-manager range to Nurs to broaden its reach to alternative investments. Under Ucits III, alternatives, which make up to 30% of the range, could only be accessed through closed-ended investment trusts. The group sought unitholder approval to change the status to Nurs as Yeadon felt, under certain circumstances, it is better to gain exposure through open-ended vehicles. "One of the frustrations with closed-ended funds is that they can swing from premiums to discounts. When you want exposure, a trust could go to a premium so we felt it would b...