Hargreaves Lansdown has put Richard Buxton’s new fund on its Wealth 150 after the manager completed his move from Schroders to Old Mutual Global Investors.
Buxton’s Old Mutual UK Alpha fund, which the manager ran on a sub-advisory basis under its former Old Mutual Equity 3 label, now appears on Hargreaves’ list of favourite funds.
Hargreaves Lansdown head of research Mark Dampier writes: ”In our view Richard Buxton is a talented manager with an exceptional track record. He plans to manage the Old Mutual UK Alpha fund in exactly the same way as he managed his previous fund.
“At Old Mutual he is supported by a well-resourced team and is well incentivised to perform. This gives us every confidence in Richard Buxton and his team.”
The fund resides in the IMA UK All Companies sector and has seen its assets under management rise from £160m when the manager’s move was announced in March to around £260m today.
Buxton’s previous fund – Schroder UK Alpha Plus – was removed from the Wealth 150 after the manager’s departure. The fund’s assets fell from the £3.6bn at the time Buxton’s departure emerged to around £2.1bn today, according to FE Analytics.
The manager joined OMGI on 17 June as its head of UK equities, joined by former Schroders peers Errol Francis and Rob James. Schroders manager Ed Meier joined the team a week later.