Schroders/Caz deal: Flagship UK equity funds 'near capacity'

Three top-performing UK equity funds run by merging fund houses Schroders and Cazenove Capital are close to reaching capacity.

Andy Brough’s £1.4bn Schroder Mid 250 fund, Julie Dean’s £1.3bn Cazenove UK Opportunities fund and Paul Marriage’s £400m Cazenove UK Smaller Companies fund, are approaching the upper limit in terms of assets under management, according to Schroders’ Peter Harrison. The flagship funds are among the leaders in their respective sectors, and have all gathered significant assets in the past year. Harrison, the group’s global head of equities, said Marriage’s fund could soon reach a level at which the manager might find it difficult to invest the assets. “Paul Marriage has a long-only fund ...