By Lars Mucklejohn Investment trust Apax Global Alpha (AGA) has unveiled a new capital allocation framework and kicked off a share buyback programme to take advantage of “wide discounts.” Alongside the announcement, it also revealed that its long-serving chair would be stepping down. The FTSE 250 firm said on Wednesday that it had completed a review of its policy and made changes to reflect feedback from investors representing the majority of its share capital. Investors suggested they wanted buybacks added to the company’s “capital allocation toolkit.” Among the measures, AGA will create a “d…