Skandia has appointed Steve Wilson and Glenn Sussman of Lapides Asset Management to run a £45m US mid-cap value mandate on the £1.02bn global dynamic equity fund. Lapides are taking over a portion of the portfolio previously managed by Epoch Investment Partners.
Lapides’ appointment follows from research by Skandia which revealed that their style and specialism in mid-cap value gives them opportunities to exploit the great alpha potential within the class.
Skandia global dynamic equity fund portfolio manager Francois Zagame says: “Steve and Glenn are a welcome addition to the fund and bring a wealth of experience. Their extremely thorough research process is a real asset which involves gaining an in-depth understanding of the companies they research and it is not unusual for them to monitor companies for years before the opportunity to invest arises. This meticulous research process coupled with a focused and contrarian approach enables them to exploit the significant alpha potential in the US mid-cap value space and therefore potentially deliver strong returns for investors.”
Lapides Asset Management is a US-based boutique focusing solely on US mid- and small-cap equities.
Since the fund’s launch in March 2009 the fund has outperformed the benchmark, the MSCI AC world GDP index, returning 66.36 per cent compared to a benchmark of 54.84 per cent.