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Old Mutual to make Buxton's fund RDR-friendly
by Sarah Miloudi on Mar 19, 2013 at 08:03
Old Mutual Global Investors will on Wednesday roll out a clean share class for incoming manager Richard Buxton.
After it emerged the Schroders UK equity head would quit the asset manager for Old Mutual this summer, Wealth Manager understands the firm is set to unveil a 0.75% share class on Buxton's £160 million Old Mutual Equity 3 fund.
The vehicle will set the scene for the star manager's arrival in June this year. The fund is currently managed by Buxton on behalf of Old Mutual and is structured as an identical Ucits unit trust to his top performing Schroder UK Alpha Plus fund.
Speaking at the time of his appointment, Julian Ide, Old Mutual Global Investors' chief executive officer, said: 'In terms of the funds, from the very beginning we wanted to have a track record so that for investors it was an easy decision.'
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