Nick Kirrage has departed Schroders after more than 20 years, with Simon Adler being named as the fund management house’s head of value equities.
Kirrage joined Schroders in 2001 as a marketing executive, before becoming an equity research analyst covering pan-European and UK stocks. He became a fund manager in 2006 and worked on several value funds including Schroder Recovery, Schroder Income and Schroder Global Recovery during his 23 years at the firm.
Schroders said Kirrage is leaving “to pursue other opportunities”.
Darius McDermott, managing director at FundCalibre, said: “As head of the value equities team, Kirrage played a pivotal role in shaping Schroders’ value-driven investing philosophy and building a deep, collaborative team structure.
“His disciplined, contrarian approach helped deliver long-term outperformance across a range of strategies.”
Performance of Nick Kirrage vs peers over career
Source: FE Analytics
Last year, Kevin Murphy departed Schroders after 24 years. He was a founding member of the firm’s value team and was a co-manager alongside Kirrage for much of his career.
Adler, the new head of value equities, joined Schroders 16 years ago and is currently co-manager of the Schroder Global Recovery, Schroder Global Equity Income and Schroder Global Sustainable Value Equity funds, among others.
McDermott said: “Kirrage leaves behind a well-resourced and stable team, with an embedded investment process and strong continuity in portfolio management. He has forged a great legacy at Schroders.”
Andrew Lyddon will continue to manage Schroders’ UK and European strategies with Tom Grady, while Liam Nunn will work alongside Adler and Roberta Barr, head of value ESG, on the global recovery funds.
Vera German and Juan Torres will continue to focus on Schroders’ emerging market value capability.
Phil Middleton, head of UK client group at Schroders, said: “Schroders is committed to achieving the best outcomes for clients through our expertise in active management. Our active managers’ skills and unique insights have allowed us to identify and capitalise on investment opportunities for clients in highly competitive markets.
“This is especially true for our global value team, which manages over £10bn of clients' assets. In Simon and the broader team, we have exceptionally talented investors who are incredibly well-placed to ensure we have continuity and keep delivering alpha.”