The Buxton effect: OMGI posts £300m net inflow in Q3

Old Mutual Global Investors (OMGI) has reported rising net sales in the third quarter, which it attributed to strong flows into its new UK Alpha fund for former Schroders' head of UK equities Richard Buxton.

OMGI reported a net inflow of £500m year to date and £300m over the quarter.  It said growth was driven by strong inflows into the Spectrum range of risk targeted funds as well as the UK Alpha, Global Equity Absolute Return, UK Smaller Companies and UK Mid Cap funds. OMGI has funds under management of £15.2bn, up 10% on the start of the year, and recorded gross sales of £2bn over the period, up 79% compared to the same period last year. Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, revealed funds under management have reached £76bn, an increase of £6.8bn o...