Doubts over funds as Schroders to buy Cazenove Mr Buxton managers the £3.5bn Alpha Plus fund. The departure was a serious blow to Schroders, as Mr Buxton's fund fund has been one of the top performers of the last decade, returning 222pc since launch in 2002, compared to a sector average of 107pc. It has been confirmed that two other managers are exiting with Mr Buxton, his deputy Errol Francis and UK equity manager Ed Meier. Schroders has confirmed that it is in discussions to take over Cazenove's asset management business. Schroders has until April 19 to announce either a firm intention to make an offer for Cazenove or that it does not intend to make an offer.