The eminent head of UK equities at Schroders, Richard Buxton is one of the most renowned fund managers in Britain. He has left his old office and has moved to smaller Old Mutual Asset Managers. This was confirmed with Reuters by two individuals privy on the matter.
Schroders confirmed the move in an announcement made last Thursday with Buxton leaving the company by June 14 after more than a decade with the company. His move was predicated on the launch of a new fund patterned after his highly successful Schroders UK Alpha Plus fund, which netted for the firm nearly GBP3.5 billion.
Not only is Buxton moving, but also Errol Francis, co-manager at Schroder UK Equity Fund who also joins Old Mutual. Buxton joined Schroders back in 2001 to help manage UK equity portfolios. He has been an outspoken fund manager for issues such as compensation of Xstrata executives during its merger with Glencore.
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