Hargreaves Lansdown has moved Richard Buxton's £2.4bn Old Mutual UK Alpha fund out of its highest tier of recommended vehicles, on concerns about the 'negative' impact for investors of his promotion to CEO.
OMGI announced last month that Buxton would take over as chief executive, replacing Julian Ide who stepped down after four years. However, although there is a team in place to support Buxton in his new role, including Warren Tonkinson as managing director, the research team at Hargreaves Lansdown said they had concerns about the impact of the move on his management of the UK Alpha fund. Can Buxton continue to deliver as he takes up CEO role? Hargreaves said: "Richard Buxton does not believe his duties as CEO will impact materially on his fund management responsibilities. Other seni...
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