Buxton began his investment career at Brown Shipley Asset Management in 1985, before taking on a stint at Baring Asset Management lasting more than a decade.
During this time, he met Errol Francis, one of the co-managers of the UK Alpha fund who will remain at the firm.
In 2003, he joined Schroders as head of UK equities, where he and Francis began working with Ed Meier, who will also continue to co-manage the UK Alpha fund.
Following this, the trio moved to Old Mutual Global Investors in 2013, at which Buxton was appointed CEO in 2015.
In 2018, Buxton led a management buyout, and the firm was renamed Merian Global Investors, which was in turn acquired by Jupiter in 2020.
Buxton said it had been “a pleasure and a huge privilege to have been entrusted with so many people’s long-term savings over so many years”.
“While I am looking forward to pursuing other interests, not least my passion for the arts, I have always said that investing is ‘in my blood’,” he added. “I feel extraordinarily lucky to have been able to pursue a career in a field that has always held such a fascination for me, and to have done so surrounded by some exceptionally talented colleagues.
“To be able to hand full responsibility for the portfolios so seamlessly to two colleagues who have been fundamental to the strategy’s success over such a long period brings me a great deal of pleasure.”
Jupiter Asset Management CEO Matthew Beesley said: “Richard is one of the most respected investors of his generation and it has been a pleasure working with him since I joined Jupiter. We are rightly recognised as having a leading UK equity franchise and Richard is leaving the UK Alpha team in robust shape and in very good hands.
“Consistent with our strategic focus on increasing scale across the business, beyond this existing strength across UK equities, we have ambitious growth plans for both our equity and fixed income platforms as we seek to broaden our appeal to clients.
“Jupiter is known as a truly active manager with a range of differentiated investment capabilities, and Richard’s career has been built on extolling the value that comes from being an active investment manager.”
On his retirement, the UK Alpha strategy will retain its investment proves and strategy, with Meier and Francis co-managing the fund.
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