Ratings Roundup

We have recently learned of changes within the Schroders Global Value team, including the departure of its head, Nick Kirrage. Consequently, Simon Adler has been promoted to Head of Value Equities.

Following this news, we have taken the decision to remove the A ratings assigned within our Academy of Funds to the Schroder Income, Schroder Income Maximiser, and Schroder Recovery funds. Although this was not an easy decision, it does reflect the level of conviction we had in Mr Kirrage, whose departure, in our view, represents a material change in the leadership of these strategies. We would also note that this follows the previous departures of Kevin Murphy (June 2024) and Andy Evans (June 2025), which further contributed to our reassessment of the funds' ratings. While we acknowledge the robustness of the team's value investment process, we believe it is appropriate to withdraw our ratings at this time.

We are retaining our Responsible A rating on the Schroder Global Sustainable Value equity fund. Although Simon Adler will have additional demands on his time as he assumes his new role, we do not think this will have a material impact, given his additional support from Liam Nunn and Roberta Barr, on this strategy.

For more information:

Visit the Schroder Global Sustainable Value Fund page