Schroders' Buxton apologises after 'disappointing' year

Schroders' star stockpicker Richard Buxton has apologised to investors in a conference call after his fund plunged down the rankings this year.

The head of UK equities, who runs the £2.7bn Schroder UK Alpha Plus fund, apologised for the performance of his fund in 2011 after it delivered fourth quartile returns to investors. He said: "November has been very disappointing in terms of returns and pretty much cements what has turned out to be a very disappointing year in performance terms," he said. "So I am looking forward to next year - I cannot wait for this year to end, and write it all off," he added. Buxton said a number of calls had worked against him in 2011 amid growing fears over the future of the eurozone, particula...