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Bond manager Isaac latest Schroders exit

Bond manager Isaac latest Schroders exit

Bond manager Gareth Isaac has left Schroders after five years with the asset management company, the investment firm has confirmed.

Isaac, who joined the firm from GLG Partners in 2011, had overseen 16 funds covering a host of asset classes and sectors across the fixed income universe.

Following his departure, management for his funds will be overseen by senior portfolio manager Paul Grainger and head of global macro Bob Jolly.

Grainger had served as co-manager on the €2.6 billion Schroder ISF Euro Bond fund alongside Isaac since November 2011, while the trio had overseen the $2.4 billion Schroder ISF Global Bond fund.

In addition, the Schroder ISF Global Inflation Linked Bond fund will be overseen by his former co-managers Tom Sartain and James Lindsay-Flynn. Isaac had also shared responsibility for several funds only available to UK investors.

A spokesperson for Schroders said: ‘Gareth Isaac is leaving Schroders’ Global Multi-Sector team to pursue opportunities outside the firm.’

‘Paul Grainger, senior portfolio manager with over 20 years of investment management experience will continue to lead the fund management function within the team. We will look to further strengthen the team in due course.’

The departure of Isaac comes in the wake of veteran investor Thomas See leaving the firm amid a restructuring of his unit, as well as mixed asset veteran Iain Cunningham opting to join Investec AM and Jamie Lowry, an equity income specialist, also departing over the summer.

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