Skandia Investment Group has awarded a further GBP 150 million mandate to Richard Buxton at Schroders following its decision to remove the mandate from Origin Asset Management.
The GBP 150 million mandate covers an element of UK equity assets in Skandias UK Equity Blend Fund; the GBP 280 million Skandia Diversified Fund and all six of Skandias risk rated Spectrum funds (which together have more than GBP 350 million in assets since launch in April 2008).
For its part Schroders UK equity team, headed by Richard Buxton already has mandates in three of SIGs funds:
Skandia Global Best Ideas Fund;
Skandia UK Best Ideas Fund;
Skandia Global Dynamic Equity Fund
But its new mandate will extend its presence within SIGs fund ranges to include:
Skandia Diversified Fund
Skandia UK Equity Blend Fund
Skandia Spectrum Funds
Weve been particularly pleased with Schroders presence in managing UK equities within three of our funds and so Im delighted that we have been able to extend their presence by adding the Skandia Diversified Fund; the Skandia UK Equity Blend Fund and the Skandia Spectrum Funds to their remit, says Ryan Hughes, senior fund manager. Our role is to ensure we select managers who we believe to be the best at any point in time, and it has become clear from extensive research that Schroders have an excellent capability that has consistently delivered over a long period. As a result we decided to award them the new mandate.
D.C.