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Skandia awards GBP150m UK equities mandate to Schroders

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Skandia Investment Group has awarded a further GBP150m mandate to Richard Buxton at Schroders following its decision to remove the mandate from Origin Asset Management.

The GBP150m mandate covers an element of UK equity assets in Skandia’s UK Equity Blend Fund, the GBP280m Skandia Diversified Fund and all six of Skandia’s risk rated Spectrum funds.

The Schroders UK equity team, headed by Buxton, already has mandates in three of SIG’s funds: Skandia Global Best Ideas Fund; Skandia UK Best Ideas Fund; and Skandia Global Dynamic Equity Fund.

Senior fund manager Ryan Hughes (pictured) says: “We’ve been particularly pleased with Schroders presence in managing UK equities within three of our funds and so I’m 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.

“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.”
 
Robin Stoakley, Schroders’ head of UK intermediary, adds: “Richard and Schroders are delighted to have been awarded substantial additional assets by Skandia. The Alpha plus Strategy, pioneered by Richard, is very popular with advisers and Skandia’s selection confirms how suitable it is in today’s investment climate.”

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