Change in Portfolio Manager

RNS Number : 8900W

Schroder Oriental Income Fund Ltd

24 August 2020

 

24 August 2020

Change in Portfolio Manager

Schroder Oriental Income Fund Limited (the "Company") has been advised by Schroders that Matthew Dobbs , the manager of the fund's portfolio, will retire from fund management in 2021. In accordance with a long - term succession plan agreed with the Board, Matthew will hand over responsibility for management of the Company's portfolio to Richard Sennitt, with effect from 31 December 2020.

Richard Sennitt joined Schroders in 1993 and has managed the successful open-ended Schroder Asian Income Fund since its 2006 inception .   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.

The Board recognises that, i n 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 .

Robin Parbrook, who also has extensive Asian investment management experience, will assume investment oversight from 1 January 2021 and take Richard's investment reporting line. 

The Chairman, Peter Rigg, commented:

"I am pleased that Richard will take over management of   the Oriental Income Fund portfolio. As a longstanding part of Matthew's team he is well known to the Board. He provides ideal continuity to the investment approach that has made the Company the largest Asian income investment trust. His long track record with an open-ended Asian income fund and his continuing access to Schroders' extensive resources in Asia, give the Board confidence that he will continue to enhance the Company's reputation.

Matthew Dobbs has been the manager of the portfolio since launch and we are very grateful to him for the work he has done for the Company and its Shareholders. We wish him the very best for his retirement."

Enquiries:

Peter Rigg

Chairman        020 7658 3206

John Spedding

Head of Investment Trusts, Schroders                                                                  07795 126612

This announcement is deemed by the Company to contain inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.

 

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