Buxton: The key to making returns in range-bound world

Buxton (pictured), one of the top performing managers over the last five years, said market timing is a key driver of returns, and no more so than now with volatility elevated. The manager of the £2.9bn Schroder UK Alpha Plus fund noted how in previous times, entering the market at the wrong moment was particularly damaging for investors. "If you invested £100 in UK equities in 1900 and left it for twenty years you would have incurred a steep loss, as your investment in 1920 would be worth £28," said Buxton. "However, if you put £100 into the market in 1920 and then pulled out in 1...