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View the article online at http://citywire.co.uk/wealth-manager/article/a666033

Star manager Richard Buxton quits Schroders for Old Mutual

by Daniel Grote, Dylan Lobo on Mar 14, 2013 at 20:37

Star manager Richard Buxton quits Schroders for Old Mutual

Citywire has learnt star fund manager Richard Buxton has resigned as Schroders' head of UK equities to take up a post with Old Mutual Global Investors.

It is understood Old Mutual Global Investors will brief its sales contacts at 8am on Friday morning in a conference call outlining the appointment.

Citywire's A-rated Buxton (pictured) will hand over the reins of his £3.5 billion UK Alpha Plus fund in June, ending a 12-year tenure at Schroders.

In total he runs over £4 billion of assets, including the £263 million Schroder UK Growth investment trust and co-managing the £338 million Aviva Investors UK Special Situations fund, alongside UK Alpha Plus .

Errol Francis, co-manager of the £628 million Schroder UK Equity fund, has also resigned and is understood to be following Buxton to Old Mutual Global Investors.

The duo will bolster Old Mutual Global Investors' UK equity team, which already includes the likes of Ashton Bradbury, Dan Nickols, Simon Murphy, Luke KerrRichard Watts and Stephen Message.

It is understood the arrival of Buxton and Francis will not spark any departures in this team.

Both Buxton and Francis will leave Schroders on 14 June and it is not known when they will take up their new posts.

Schroders' global head of equities Peter Harrison said the group would announce succession plans for Buxton and Francis ‘in the near future’.

‘We have a depth of talent in our UK equities team of 16 investors that is well-established, with average investment experience of over 12 years,’ he said in a statement.

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4 comments so far. Why not have your say?

Christopher Hunter

Mar 14, 2013 at 21:07

Best get arranging some fund switches then!

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Christopher Hunter

Mar 14, 2013 at 22:33

To Old Mutual?!!!

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Colin Hare

Mar 14, 2013 at 22:59

Great fund, keep the faith!

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Anonymous 1 needed this 'off the record'

Mar 15, 2013 at 08:32

Fools and their money..........

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