Up­date: Schroder Asia Pa­cific

The Daily Telegraph - Business - - Business -

Few trusts can boast such sta­ble man­age­ment as this one: Matthew Dobbs has run it for its en­tire 25-year ex­is­tence. He is an Asia-Pa­cific in­vestor to his fin­ger­tips but on Tues­day he fi­nally an­nounced his re­tire­ment.

The trust said his re­place­ments, Richard Sen­nitt and Ab­bas Barkhor­dar as his deputy, would bring “con­ti­nu­ity of ap­proach, with Richard hav­ing worked with Matthew on his Asian funds for the past 13 years”. It added that “Richard and Ab­bas will con­tinue to draw upon Schroders’ deep re­sources in Asia”.

But this kind of thing is al­ways said when a trusted man­ager steps down so we should have a de­gree of scep­ti­cism. Let’s see how in­vest­ment trust an­a­lysts re­acted. Those at Nu­mis said: “Matthew has been sup­ported by Richard Sen­nitt for the past 13 years and as a re­sult we do not ex­pect sig­nif­i­cant changes to the in­vest­ment ap­proach. He is an ex­pe­ri­enced fund man­ager. Matthew Dobbs will re­main at Schroders as an ad­viser un­til the end of 2021. We note that the cur­rent dis­count of about 13pc on Schroder Asia Pa­cific of­fers value and would view any fur­ther widen­ing as a buy­ing op­por­tu­nity.”

JP Mor­gan Cazen­ove said: “We would not ex­pect any rad­i­cal changes, with the board fo­cus­ing on con­ti­nu­ity.”

We will hold but mon­i­tor progress.

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