(Alliance News) - Schroder Oriental Income Fund Ltd and Schroder AsiaPacific Fund on Monday said portfolio manager Matthew Dobbs is to retire in 2021.
As part of a long-term succession plan, Dobbs will hand portfolio management responsibility for both to Richard Sennitt, who joined Schroders in 1993 and has managed Schroder Asian Income Fund since since 2006 when it was created.
"The key to this appointment is the continuity of approach he will bring to the investment strategy with Richard having worked with Matthew on his Asian funds for the last 13 years," said Schroder Oriental.
"The board recognises that, in managing the portfolio, Richard will continue to draw upon Schroders' deep resources in Asia. Research remains key to Schroders' investment process, and Richard will continue to work closely with a strong network of regional analysts and their fund management colleagues in 8 offices around the region," the company added.
Robin Parbrook will take over investment oversight from the start of 2021.
Shares in Schroder Oriental were up 0.9% at 235.00 pence in London on Monday morning.
Dobbs also will hand over portfolio responsibility to Sennitt at Schroder AsiaPacific, where Abbas Barkhordar will become assistant manager. Sennitt and Barkhordar will assume formal responsibility for managing the portfolio effective March 31, 2021.
Parbrook will also take over investment oversight at Schroder AsiaPacific on that date.
Nichola Smith, chair at Schroder AsiaPacific, said: "Richard is the natural successor to bring a continuity of approach, having worked so closely with Matthew for the last 13 years and bringing his own impressive track record. Abbas brings fresh perspective whilst having also been fully immersed in the Schroders approach for a number of years. The board believes that these arrangements put in place the resources required to ensure the long-term success of the company."
Shares in Schroder AsiaPacific were up 1.0% at 485.76p in London on Monday.
By Anna Farley; annafarley@alliancenews.com
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