OMGI expands fund range for Buxton

Old Mutual Global Investors (OMGI) has launched an Ireland-domiciled version of the Old Mutual UK Alpha fund for Richard Buxton.

The fund, which will launch on Wednesday December 18, is a mirror of the £1bn onshore Old Mutual UK Alpha fund and will invest in a concentrated portfolio of 35-40 predominantly large-cap stocks.

Errol Francis will join Mr Buxton on the fund, which aims to maximise capital growth over the long term.

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Mr Buxton said: “Flows into the Old Mutual UK Alpha fund have been positive since June and assets under management currently stand at circa £1bn. We have also received increased demand from our international client base and therefore decided that it was appropriate to provide a vehicle for them to access this strategy.”

The Old Mutual UK Alpha fund has delivered 130.3 per cent in five years, compared with a FTSE All Share index return of 96.7 per cent to the end of October, according to OMGI.