UK – Life insurer Skandia has awarded a 50 million pound (76.3 million euro) specialist UK equity mandate to Martin Currie Investment Management.

Skandia said in a statement that Martin Currie's 30-stock portfolio joins the existing active managers - Merrill Lynch Investment Management and Societe Generale - in Skandia's UK Equity Fund and Skandia's UK Dynamic Fund.

It said the portfolio would be managed by Jeff Saunders and David Urch.

It added that its UK Equity Fund combines both passive and active fund management techniques and is split 70% active and 30% passive with the active managers allocated: Merrill Lynch Investment Management: 35%, Societe Generale Asset Management: 21% and Martin Currie:14%.

The UK Dynamic fund is 100% active and the managers allocated: Merrill Lynch Investment Management: 50%, Societe Generale Asset Management: 30% and Martin Currie: 20%.

Skandia’s head of investment sales Angus Duncan said: "Martin Currie has experienced and talented portfolio managers in Jeff Saunders and David Urch and has clearly demonstrated an intuitive and predictive investment philosophy backed by a systematic process. We are delighted they are on board and will form an integral part of the UK Equity and UK Dynamic Funds."

Keith Falconer, managing director of sales and marketing at Martin Currie said: "We are extremely pleased to have won the Skandia mandate and look forward to offering Skandia clients access to our investment expertise."

Topics