Buxton ignores 'frenzy of panic' to snap up more Standard Chartered

Schroders' head of UK equities Richard Buxton has been buying Standard Chartered on its dramatic share price falls this week, ignoring the market's "frenzy of panic" over the stock.

The manager of the £2.7bn Schroder UK Alpha Plus fund said he was “amazed” at the scale of the bank’s share price moves and the short-termism of investors who rushed to ditch their holdings. He said it was particularly surprising given the recent publication of the Kay Review, which has tried to encourage fund managers to be more long term in their attitudes to investments. “Long-term investors who said they would only buy Standard Chartered on the dips were selling. I bought some more, and the stock fell another 5% after I bought, but I gave myself scope to buy more if it fell furthe...