Schroder US Small Cap fund takes value stance

jones drops growth bias and aims for 5% cash holdings

Investors into the Schroder US Smaller Companies fund can only expect to be a maximum of 95% invested in the market, as manager Jenny Jones seeks to minimise the risk of redemptions in the sector. Jones, who replaced Ira Unschuld, said she will always run between 5%-7% cash due to her consciousness of the potential for redemptions. Still, since taking over the fund she has reduced the previous cash position from 13%-14% to 9%-10%. Jones, who took on the fund in December, has made moderate stock holding changes so far and has switched the portfolio's emphasis from growth to value. She...