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Skandia hands out £250m in mandates

Skandia Investment Management has awarded £250m in fund mandates.

The firm has awarded two mandates for its £600m active UK portfolio, with UBS given a £185 value mandate and Gartmore Asset Management given a £65 pragmatic growth mandate.

SIM marketing manager David Orr says this is one of the biggest retail mandates ever awarded in the UK.

The firm has this year taken £700m in assets under management and has done more than 4,500 deals with IFA partners. Since its launch in April 2003, SIM has taken more than £1.7bn in assets under management.

Orr says: “As far as we are concerned, this is one of the biggest mandates in the UK fund market. Because of our in-depth research, we are able to keep the number of mandates in the portfolio at the lowest possible level.

“It really comes down to the contribution of the managers in the portfolio and their expertise.”

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