Schroders loses senior portfolio manager

Jenneke to depart in June

By Wouter Klijn
Tue 23 Mar 2010

Schroders senior portfolio manager Australian equities leaves the firm.

Schroder Investment Management senior portfolio manager Australian equities Randal Jenneke is set to leave the company in June this year.

Jenneke is believed to be taking up a position with US fund manager T Rowe Price in Australia.

"Schroders has always adopted a team-based approach to the management of Australian equities and within that team maintained a number of senior investors - people who have or could have team management roles at other organisations," Schroders told clients in an email.

"It is inevitable that within this structure we will from time to time lose a senior person to an opportunity that they cannot get at Schroders."

Schroders will make a number of changes to the structure of the Australian equities team. Senior portfolio manager Andrew Fleming will formally take up the role of deputy head of the team.

Together with Schroders head of Australian equities Martin Conlon, Fleming will have ultimate responsibility for the core and equity opportunities strategies.

The small and micro caps will remain the responsibility of portfolio manager David Wanis.

Schroders said these changes would be enough to deal with Jenneke's departure and said it would not immediately hire a replacement.

"Having added substantially to the bench strength of our team over the last few years, we believe we have one of the largest and strongest Australian equity teams," the fund manager said.

"Randal's responsibilities are easily absorbed by the remaining members of the team and we do not currently intend to hire another senior investor."

There is no change to the investment process of any strategy, Schroders said.

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