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Old Mutual UK Alpha - moved from Wealth 150+ to Wealth 150

Kate Marshall | Fri 04 September 2015

Investments can go down as well as up so there is always a danger that you could get back less than you invest. Nothing here is personalised advice, if unsure you should seek advice.

Richard Buxton was recently appointed CEO (Chief Executive Officer) of Old Mutual Global Investors. In future he intends to provide investment leadership to the group, while also continuing as lead manager of the Old Mutual UK Alpha Fund.

Richard Buxton does not believe his duties as CEO will impact materially on his fund management responsibilities. Other senior members of the group will work alongside him and take responsibility for non-investment-related matters, while long-standing colleagues Errol Francis and Ed Meier will continue supporting him on the fund.

We believe Errol Francis and Ed Meier are capable individuals, but Richard Buxton will inevitably have less time to dedicate to fund management. He believes that as his process has evolved and the team strengthened over the years, he can dedicate more time to other areas, while still having sufficient time to focus on fund management. However, we backed this fund for Richard Buxton's stock-picking ability and on balance we view his appointment as CEO as negative for investors in the fund.

The Wealth 150+ is reserved for funds we believe offer the ultimate combination of performance potential and low management costs. We continue to believe the fund represents a good choice for exposure to larger UK companies; however, our conviction in the manager's ability to deliver superior long-term returns is not as strong following his change in role. We therefore feel it is prudent to move the fund from the Wealth 150+ to the Wealth 150 while we monitor the effect of the changes.

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We stress this is not a suggestion to make any changes to a portfolio, providing this adventurous fund continues to meet investors' objectives. Richard Buxton has no intention of relinquishing management of the fund and we continue to view him as a skilled stock picker with the support of a strong team. The fund remains a concentrated portfolio which enables each holding to make a significant impact on returns however this is a higher-risk approach.

We will continue to monitor the performance of the fund, as well as the manager's involvement, and update investors if our views change. This article, similar to our service, is not personal advice. Investors who are unsure of the suitability of an investment for their individual circumstances should seek advice.

Find out more about this fund including how to invest

Please read the key features/key investor information document in addition to the information above.

Important information - Please remember the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. This article is provided to help you make your own investment decisions, it is not advice. If you are unsure of the suitability of an investment for your circumstances please seek advice. No news or research item is a personal recommendation to deal.


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