Schroders is timetabling a May launch for Richard Buxton's forthcoming UK Alpha fund. Buxton, who ...
Schroders is timetabling a May launch for Richard Buxton's forthcoming UK Alpha fund.
Buxton, who joined the group last year, will hold between 20 and 40 stocks in the product. He will also concentrate on asset allocation, in order to differ from some other pure stockpicking-focused funds.
Buxton joined Schroders in September and has been working on institutional portfolios as part of the UK equities specialist team in London.
He quit his role as head of UK equities at Baring Asset Management to become director of specialist UK equities at Schroders.
At Barings, he was well known for managing the £187m Barings UK Growth Trust, which posted poor performance during his last year with the group. For the 12 months to 29 June 2001, the trust gave a total return of -13.87%, while for the three years to the same date, it posted a total return of 9.37%.
The focused funds launched in recent years have been strictly bottom-up, from groups such as Gartmore, Norwich Union, RSA Investments and JP Morgan Fleming.
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