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Star manager Richard Buxton quits Schroders for Old Mutual
It is understood Old Mutual Global Investors will brief its sales contacts at 8am on Friday morning in a conference call outlining the appointment.
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 .
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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