Schroders has hired Philip Matthews from Jupiter to replace Richard Buxton on the £3.2bn Schroder UK Alpha Plus fund.
The company has also hired Alex Breese from Neptune to run the Schroder UK Equity and offshore Schroder ISF UK Equity funds, previously run by Errol Francis and Ed Meier.
Robin Stoakley, managing director of UK intermediary, said the two managers brought a “great combination of experience and talent to the UK equities team”.
Mr Matthews currently runs the £366.1m Jupiter Growth & Income fund, which has ranked in the top quartile in one, three and five year periods. Jupiter said he will leave in October after a six-month notice period.
In a statement Jupiter said it would be announcing a replacement manager for the Jupiter Growth & Income fund “in due course”.
Mr Breese manages the £33.9m Neptune UK Special Situations fund, which is also top quartile in both three and five year periods. Scott MacLennan, manager of Neptune’s UK Equity fund, will take over the management of the UK Special Situations fund.
Neptune chief executive Robin Geffen said: “It is always sad when we lose home-grown talent. However, Alex will be replaced by Scott MacLennan who has done a terrific job revitalising our UK Equity fund and knows the UK Special Situations portfolio inside out.”
Schroders has been hunting for a replacement for Mr Buxton since he resigned last month along with Mr Francis and Mr Meier, who will all join Old Mutual Global Investors in June.
When the trio leaves, Mr Stoakley said their funds would be taken over by Sue Noffke on a temporary basis. Ms Noffke runs the Schroder Income Growth investment trust. She will oversee the UK Alpha Plus fund with Alex Breese, who joins in July, until October when Mr Matthews will take on the fund.
