Schroders’ head of UK equities Richard Buxton has resigned from the firm after 12 years to join Old Mutual Global Investors (OMGI).
Mr Buxton will join OMGI’s line up of UK equity managers which includes head of equities Ashton Bradbury, mid cap manager Richard Watts and small cap equity star Dan Nickols.
Investment Adviser revealed last night that Mr Buxton leaving the group, having run the £3.4bn Schroder UK Alpha Plus fund since it launched.
It has delivered a top quartile 285 per cent return in the past 10 years compared with the IMA All Companies sector average of 179 per cent, according to FE Analytics.
It has also delivered top-quartile returns in the past five and one years.
Errol Francis, co-manager of the £648m Schroder UK Equity fund with Ed Meier, has also resigned from Schroders to join OMGI.
“Richard and Errol have resigned today and they will both continue to run their funds including UK Alpha Plus and UK Equity until they leave in mid June,” said Robin Stoakley, head of intermediary at Schroders, last night.
“Richard, Errol and Schroders believe it is in our clients’ best interests to continue to manage the funds until Schroders appoints permanent replacements.”
Mr Buxton also manages the £301m Schroder UK Growth investment trust and co-manages the £338m Aviva Investors UK Special Situations fund.
He joined Schroders in 2001 as head of the specialist UK team from Baring Asset Management where he was a UK equity manager.
