Old Mutual Global Investors' CEO and head of UK equities Richard Buxton has said he is feeling optimistic as stocks which hurt him last year are returning to favour.
The manager (pictured) has had a difficult 12 months on his £2.1bn Old Mutual UK Alpha fund, with the fund dropping to fourth quartile over one and three years. However, Buxton said positions in companies such as gambling firm Ladbrokes and luxury retailer Burberry are now beginning to pay off. "Burberry has done well thanks to share buybacks and management changes and Ladbrokes has also had some good results, which is pleasing as it has been a long-term holding for us. "The companies that have been causing us pain in the past are becoming more justified as other people are now g...
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