OMGI's Buxton avoids Brexit mistakes following US election

Boosted by financials

Richard Buxton believes he has "clawed back" losses following the Brexit vote on his £2.1bn Old Mutual UK Alpha fund, which was better positioned for the impact of the US Presidential Election.

The fund lost 10% after the EU referendum vote, but has managed to rebound and is now up 20% from its post-Brexit vote low. Buxton (pictured), chief executive of Old Mutual Global Investors (OMGI), said he was encouraged that the positioning of UK Alpha prevented a repeat performance following the US election, with the fund instead reporting a 3% uptick in returns. In particular, while financials hurt the manager post-Brexit due to the low interest rate environment, they were beneficiaries following the election result.  Buxton said: "The fund responded well to the US election, as ...