Richard Buxton to join Old Mutual

STAR fund manager Richard Buxton is to join Old Mutual this summer, after a career spanning 11 years at blue chip asset manager Schroders.

It emerged last night that Buxton would step down from his role as head of equities at Schroders alongside colleague Errol Francis.

Mark Dampier, head of research of Hargreaves Lansdown, said this morning that investors shouldn’t rush to sell out of Buxton’s fund.

“When we know who is taking over the fund we will be able to inform investors.

“Old Mutual are trying to build their presence in the UK and the signing of this star manager is a significant statement of intent,” he added.