Richard Buxton hangs his hat for retirement after nearly four decades as Britain’s top stock picker
Retired: Richard Buxton
Richard Buxton hangs his hat for retirement after nearly four decades as Britain’s top stock picker.
Buxton, 59, will leave Jupiter Fund Management at the end of August, following chief Edward Bonham Carter, who left the asset manager last year.
The City veteran began his career in 1985 as an investment trainee at Brown Shipley before joining Barings Asset Management and then Schroders. He is one of the UK’s best-known asset managers.
He later became the CEO of Old Mutual Global Investors in 2015, where he completed a management buyout two years later. Renamed Merian Global Investors, it was sold to Jupiter three years later for £370 million.
Buxton manages Jupiter’s UK equity fund, the UK Alpha Fund, which will be transferred to Ed Meier and Errol Francis. He prefers to hold stocks for the long term, in some cases 20 years, and focuses on 30 to 35 stocks.
Top holdings in the £585 million fund include pharmaceutical company AstraZeneca, energy producer Drax, natural resources group Glencore and Lloyds Bank.
“It has been a pleasure and a tremendous privilege to have been given the savings of so many people over so many years,” said Buxton.