Skandia Investment Group has awarded a £21m mandate in its Skandia UK best ideas fund to Peter Lees of F&C Investments.
Lees, the manager of the F&C Institutional UK equity fund, takes over from Colin Mclean of SVM Asset Management in the UK best ideas line-up. Mclean will still continue to manage a mandate for the fund.
F&C’s weighting in the fund stands at 18 per cent.
Lees has nearly 30 years of experience in the sector and is thought to be suited to the Best Ideas format in part based on his previous experience managing a 10-stock mandate. Up until 208 he ran the F&C UK Mid Cap fund.
The UK Best Ideas fund is managed by Lee Freeman-Shor, Ryan Hughes and Francois Zagame.