Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Buxton set to burst through £1 billion

Buxton set to burst through £1 billion

Richard Buxton’s Old Mutual UK Alpha fund is poised to pass the £1 billion mark before the end of 2013.

Having started the year with less than £150 million in assets, the fund has swelled since it was revealed in March that Citywire AA-rated Buxton (pictured) would be poached from Schroders to run it.

Wealth Manager understands the fund now holds around £950 million and during the month of October alone it took in £250 million.

This has been achieved in spite of the fact Old Mutual has not been able to market the fund, but will begin doing so from 16 December.

Paul Surguy, investment manager at Sanlam Private Investment, said he was not surprised at Buxton’s success in attracting money. ‘His name is so well known in the industry that he has brand recognition.’

Surguy also noted that Buxton filled in the last part of Old Mutual’s UK equity puzzle in two ways. ‘They had one of the best small cap teams, one of the best mid cap teams, and now one of the best large cap teams.’

He added that ‘where they were lacking, if at all, was in having a public face’.

The fund selection head also highlights that Buxton is winning favour as an out-and-out large cap manager, at a time when many competitors are displaying a mid cap bias.

In contrast, Buxton’s former flagship fund, Schroder UK Alpha Plus, has shrunk from £3.7 billion in March to around £1.7 billion.

It is managed by AA-rated Philip Matthews, formerly of Jupiter, who is planning to make the portfolio less concentrated and shift it from being predominantly large cap to FTSE 350-oriented.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter