Bennelong Funds Management has agreed to become the investment manager of two of Schroders’ UK-domiciled funds.
BennBridge, the new UK operation of Bennelong Funds Management, has reached an in principle agreement with Schroders to becomes the investment manager of both the SARFCO UK Dynamic Absolute Return Fund and SAS UK Dynamic Absolute Return Fund.
As a result of the agreement, Schroders fund managers Paul Marriage and John Warren will transition to BennBridge in the fourth quarter of 2017.
Both men will continue to manage both strategies and the investment objectives of the funds will not change.
The two funds will fall under the new brand Tellworth Investments LLP, with both Mr Marriage and Mr Warren to cease to be employees of Schroders.
BennBridge chief operating officer Greg Thomas said the agreement with Schroders is the result of a large number of meetings with potential partners since the launch of the UK business.
"Since last summer we have been working to build a strong distribution, marketing, compliance and operational platform, which is now in place and awaiting FCA authorisation, and which provides a strong foundation for BennBridge’s future growth," Mr Thomas said.
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