FCA gets behind fund buy lists

FCA gets behind fund buy lists

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In June 2013, platform giant Hargreaves Lansdown sent out a mailshot to clients about Richard Buxton's move from Schroders to Old Mutual.

The letter said new manager Philip Matthews was not of the same “calibre” as the veteran investor, and provided documents to enable them to switch funds. Following the departure of Buxton to Old Mutual Global Investors, remaining investors in the Schroder UK Alpha Plus fund were left with less experienced managers, it continued. The letter said those who bought the Buxton’s Schroder UK Alpha Plus fund to benefit from his skills “might wish to consider following him to Old Mutual”. Hargreaves sent similar communications after Neil Woodford left Invesco Perpetual to set up his own fu...

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