Future of Buxton trust still uncertain despite Matthews hire

The board of the Schroder UK Growth fund has said Philip Matthews, hired by Schroders to replace Richard Buxton, is not certain to take over as manager of the £300m trust later this year.

Matthews is to join Schroders later this year to run the £3.1bn UK Alpha Plus fund as Buxton (pictured) prepares to leave for Old Mutual Global Investors in June. With Matthews set to join Schroders in October, fellow new recruit Alex Breese and UK equity manager Sue Noffke managing portfolio in the interim period after Buxton's June departure. But the board of the Schroder UK Growth fund, also managed by Buxton, said Matthews "has not been engaged to manage [the] portfolio". "The board expects to make a further announcement in early May regarding the future management of the compa...