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SIG selects Investec for GBP170m UK Equity mandate

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Skandia Investment Group has selected Investec Asset Management to manage a UK equity mandate previously managed by UBS.

The GBP170m UK equity mandate will be managed by Alastair Mundy and his UK contrarian team and will be used across a range of SIG’s funds including the Diversified Fund and the Spectrum range.

Investec’s investment team focuses on out of favour stocks and its investment approach is based on the premise that investors act irrationally at extreme points in the investment cycle. The approach capitalises on this irrational behaviour and identifies companies that have the ability to recover over the medium to long term.

Ryan Hughes (pictured), senior fund manager at SIG, says: “We believe Investec’s appointment to this mandate will be very beneficial for our investors. Alastair Mundy and his team have a very strong investment approach with an impressive long term record and their approach combines well with other UK managers we work with.

David Aird, managing director UK distribution at Investec Asset Management, adds: “We have enjoyed a close and growing relationship with the Skandia Group over the past ten years and we are delighted that SIG have included our UK contrarian equity capability as a building block within their fund range.”
 

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