Schroders to switch manager on European Opps and shift to value approach

Fund has underperformed over past three years

Schroders is replacing the manager on its £438m European Opportunities fund and overhauling the strategy.

Steve Cordell, who currently manages the vehicle, will be replaced by Andrew Lyddon and Andrew Evans. Cordell joined Schroders as part of the takeover of Cazenove Capital in July 2013. He will continue to manage the Schroder European Equity Absolute Return, Schroder ISF European Equity Absolute Return and the Schroder ISF European Opportunities funds. Lyddon joined Schroders as a graduate in 2005 and joined Kevin Murphy and Nick Kirrage on the UK value team in 2010. Evans joined Schroders in 2015 as a member of the value investment team. Schroders equity manager Kelly departs ...