Revealed: Marriage's Cazenove Absolute UK Dynamic fund to hard close

Schroders has moved to hard close Paul Marriage's popular long/short Cazenove Absolute UK Dynamic fund in order to preserve performance.

The fund, run by Marriage (pictured) and co-manager John Warren, has a bias towards mid and small cap stocks, and has delivered some very strong numbers since launch in 2009. In the last three years the fund has returned 49% versus the Targeted Absolute Return sector average of 8.9%, according to FE. Performance helped the fund grow to £367m by the end of September. Given its exposure to the smaller companies in the market - it has net exposure of almost 40% to small cap and AIM stocks at present - the group has opted to hard close the product. Robin Stoakley, managing director ...