April 17 (Bloomberg) -- Schroders Plc, Europe’s biggest publicly traded money manager by market value, hired Philip Matthews from Jupiter Fund Management Plc to run its 3.1 billion-pound ($4.7 billion) Alpha Plus fund.
Matthews, 39, will manage the fund in place of Richard Buxton, head of U.K. equities, who plans to join Old Mutual Plc, London-based Schroders said today in a statement. Alex Breese, formerly of Neptune Investment Management Ltd., also joins to run the Schroder U.K. Equity and Schroder ISF U.K. Equity funds.
Schroders is looking to prevent outflows from its Alpha Plus fund, which has beaten 83 percent of rivals over the past five years, according to data compiled by Bloomberg, after Old Mutual announced it was hiring Buxton last month. Today’s appointment leaves Jupiter with a hole to fill as Matthews had been in line to take over the 525 million-pound Jupiter High Income Fund in July from Anthony Nutt, who is retiring next year.
Matthews and Breese “are two highly rated U.K. equity fund managers with excellent performance track records,” Peter Harrison, global head of equities at Schroders, said in the statement.
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