Retiring: Richard Buxton
Richard Buxton is hanging up his hat for retirement after nearly four decades as Britain’s top stock picker.
Buxton, 59, is set to leave Jupiter Fund Management at the end of August, following chief Edward Bonham Carter, who quit the asset manager last year.
The City veteran started his career in 1985 as an investment trainee at Brown Shipley before later joining Barings Asset Management and then Schroders. He is one of the UK’s best-known asset managers.
He later became the chief executive of Old Mutual Global Investors in 2015, where he drove a management buyout two years later. Renamed Merian Global Investors, it was sold three years later to Jupiter for £370m.
Buxton runs Jupiter’s UK equities fund, the UK Alpha Fund, which will be handed over to Ed Meier and Errol Francis. He prefers to hold stocks long-term, in some cases 20 years, and to focus on about 30 to 35 shares.
Top holdings in the £585m fund, include pharma firm AstraZeneca, power generator Drax, natural resources group Glencore and Lloyds Bank.
‘It has been a pleasure and a huge privilege to have been entrusted with so many people’s long-term savings over so many years,’ Buxton said.
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