Buxton to run flagship UK Alpha fund at Old Mutual
Old Mutual Global Investors has confirmed it has hired Schroders star Richard Buxton as its new head of UK equities, with the manager set to run a UK Alpha equity fund.
Reporting to Julian Ide, CEO of Old Mutual Global Investors, Buxton will be responsible for managing Old Mutual Global Investors’ UK equity teams.
Ashton Bradbury, who has managed the teams for over three years and has played an instrumental role in guiding and directing the investment performance of the teams, will report to Buxton.
Buxton will also join Old Mutual Global Investors’ management team.
Buxton (pictured) currently runs an identical UCITS unit trust fund to the Schroders UK Alpha Plus fund, on behalf of Schroders for Old Mutual Global Investors on a sub-advisory basis – the Old Mutual Equity 3 fund, which has assets of £160m (as at 02/2013).
Subject to regulatory approval, Old Mutual Global Investors will rename this fund the Old Mutual UK Alpha fund, which will become Buxton’s flagship fund.
Buxton’s deputy at Schroders, Errol Francis, will also join Old Mutual.
Julian Ide, CEO of Old Mutual Global Investors, said: “We are excited to have two exceptional managers joining our team. Not only do Buxton and Francis have an outstanding track record, they are also an excellent cultural fit with our business and their appointment complements our existing UK Equity teams.”
“By adding Buxton’s large cap investment capabilities alongside our leading UK Small and Mid-Cap, UK All Companies and UK Equity Income teams, we will have a market leading suite of long-only and long-short UK investment strategies.”
“This reflects Old Mutual Global Investors’ commitment to providing the very best investment talent and performance to our client base.”
Bradbury said: “This is a significant development for Old Mutual Global Investors, one which I fully support. I am very proud of the performance that the smaller companies’ team has delivered over the last 12 years and also that of the wider UK Equity teams since my appointment as head of equities in 2008.
This article was first published on Investment Week