Old Mutual Global Investors eyes extra mandates for Buxton

Old Mutual Global Investors (OMGI) is exploring ways to capitalise on new manager Richard Buxton's popularity, including running segregated mandates and potentially launching an investment trust.

Buxton’s defection to Old Mutual from Schroders in June 2013 resulted in his former fund shedding £1.8bn, and Schroders losing a sizeable Aviva mandate. The Schroder UK Alpha Plus fund, which stood at £3.5bn before Buxton announced his departure, had shrunk to £1.7bn as at 3 January, according to Morningstar. In September, Aviva Investors said Buxton’s departure was the catalyst for it to close the £376m UK Special Situations fund he co-managed with Andy Brough. OMGI, by contrast, has seen Buxton’s new Old Mutual Alpha Plus fund, previously run as a segregated mandate by Schroders,...