OMGI's Buxton promises 'constructive returns' after 'horrendous' fund performance

Three-year rolling numbers 'worst period'

Richard Buxton, CEO of Old Mutual Global Investors (OMGI), has explained why his £2.2bn UK Alpha fund has underperformed its FTSE All-Share benchmark over the last three years, and has assured investors 2017 will see a "much more normal operating environment".

In his latest monthly update for the £2.2bn Old Mutual UK Alpha fund, Buxton (pictured) reassured investors he is "back on track with much more constructive returns" after the last three years represented the worst three-year rolling period of underperformance in the history of the fund, launched in 2003. The vehicle has returned only 10.8% during the three years to 17 January, against the FTSE All-Share benchmark return of 19% and the UK All Companies sector average return of 17%, according to FE. The stocks giving Buxton a much-needed lift in post-Brexit rally Buxton said: "We un...