Winterflood swaps Buxton trust for Fidelity's Wright on buy list

Investment trust broker Winterflood has cut Richard Buxton's £288m Schroder UK Growth trust from its buy list in favour of Fidelity's Alex Wright.

The move comes one month after the star manager announced he will leave the firm to join Old Mutual Global Investors in June. Winterflood had initially put Buxton's trust ‘under review' after it emerged he had handed in his notice, but it has now opted to remove the trust from its buy list amid uncertainty over Buxton's potential successor. The broker has instead promoted £454m Fidelity Special Values, managed by Alex Wright, to its buy list, which has had a turnaround in fortunes since the manager took over the trust last September from Sanjeev Shah. "Following the announcement th...