Former Schroders fund manager Richard Buxton has started his new role at Old Mutual Global Investors and has already been attracting assets to his new flagship fund.
Buxton, who finished as Schroders head of UK equities and manager of the Schroder UK Alpha Plus fund last week, began as OMGI’s head of UK equities today. He is joined by former Schroders peers Errol Francis and Rob James, while Ed Meier will join the team next Monday.
The Old Mutual UK Alpha fund, which Buxton ran on a sub-advisory basis under its former Old Mutual Equity 3 label, has received over £110 million of assets in the first two weeks of June. The fund has increased from its £160m in assets when the manager’s move was announced to its current £263m.
On the other hand, the Schroder UK Alpha Plus fund has seen its assets under management fall from the £3.6bn at the time Buxton’s departure emerged to around £2.3bn today, according to FE Analytics.
Old Mutual UK Alpha’s cumulative performance to 14 June 2013
|3 months||6 months||1 year||3 years||5 years||10 years||Since launch|
|Old Mutual UK Alpha||5.24%||17.69%||25.25%||39.87%||25.04%||108.21%||121.00%|
|IMA sector average||5.08%||14.08%||18.14%||32.24%||31.77%||145.25%||170.97%|