Bestinvest adds Buxton’s fund to Premier Selection

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Four stars: Richard Buxton

Richard Buxton’s £502.5m Old Mutual UK Alpha fund has been given a four-star rating and added to Bestinvest’s Premier Selection.

Bestinvest managing director of business development and communications Jason Hollands attributes this decision to the similarity between Buxton’s fund and how he managed his portfolio when at Schroders.

Buxton left Schroders to join Old Mutual Global Investors in March after 12 years with the firm.

Hollands says: “The Old Mutual UK Alpha fund has an identical mandate to the fund Richard managed at Schroders until a few months ago. Three investment professionals from the Schroders UK equity team have joined him in the move.”

“We believe Richard had the option to take additional investment professionals with him but considers himself to be fully resourced given the coverage already in place through the existing Old Mutual UK equity team. The portfolio’s pro-cyclical / domestic recovery theme remains unchanged.”

Additionally, a four-star rating was also given to Matt Hudson’s £427.5m Cazenove UK Equity Income fund and included in the Bestinvest Premier Selection as well.

Hollands adds: “We have been impressed with Matt for some time but have been wanting to assess the potential impact of the the acquisition of Cazenove by Schroders prior to awarding a rating. We have subsequently been reassured that there will be no significant changes made to the management of the fund.

“Matt Hudson follows the business cycle approach developed at Cazenove and since taking full control of the fund in 2008 he has demonstrated an ability to capitalise on market trends without adding significant volatility or drawdowns versus the peer group average.”