I have had a note this morning that Schroders want to rename their fund Strategic Bond Fund to Absolute Return Fund, to reflect the investment objective. Schroder believe that this is an inappropriate name for their fund and are making the changes as a result. Anyone with holdings in the fund will receive a letter to this effect. This will happen automatically on 13 June 2011 – which is next Monday. Not exactly a lot of time to prepare, but there it is.
To my mind this is a significant issue (the correct labelling of funds) and should any of our clients have this holding I will be writing to you within the next few days.
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