Former managers Nick Purves and Ian Lance were given the option of vetoing Schroders' purchase of a 49% stake in RWC Partners after joining the boutique last month.
Schroders has acquired a 49% stake in RWC Partners, the future destination of the group's former income fund managers Nick Purves and Ian Lance.
Schroders' Income Maximiser fund has used its call writing strategy to obtain high yields from BP at a time when other equity income funds were hit by the oil giant cancelling its dividend.
The FTSE started the day positively buoyed by a strong start for bank stocks and increased hopes of a global recovery.
The manager of the £143m Finsbury Growth & Income fund believes technology stocks are in the middle of the bull run that could see prices reach dotcom levels.
Richard Buxton has added his name to a growing list of fund manager heavyweights casting doubt on the future of the beleaguered euro.
Schroder Income duo Nick Kirrage and Kevin Murphy have increased their position in BP over the past 48 hours, believing it is "almost inconceivable" it will face a fine above the $50bn level which would put its dividend in jeopardy.