Mutual fund adviser Schroder Investment Management will manage a new mutual fund starting in July as part of the Schroder Series Trust, according to a prospectus filed with the Securities and Exchange Commission, Dow Jones reports.
The proposed Schroder U.S. Small and Mid-Cap Opportunities Fund will seek capital appreciation by investing at least 80% of its net assets in small- or mid-capitalization companies. Schroder, whose parent company, Schroders PLC, had about $204 billion under management as of Dec. 31, 2004, defines small- or mid-cap companies as those with a market capitalization of between $1 billion and $7 billion. The fund may also invest in equity securities of larger companies if it offers the opportunity for capital appreciation.
Other criteria for investment include companies that have gone public in recent years, have recently completed merger deals, or installed new management.
Jenny B. Jones will be the portfolio manager for the fund. Jones has been with the adviser since 2003 and is also portfolio manager of the Schroder U.S. Opportunities Fund. The new fund will offer Investor Shares and Advisor Shares. Both classes of shares will carry a 1% management fee and a 0.96% fee for other expenses. Advisor shares will have a 0.25% distribution fee, according to the SEC filing.
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