This follows the closure of Axa Framlington’s absolute return UK fund.
As Luckraft no longer manages money on a long/short basis SIG has reallocated his mandate between the remaining specialist long/short managers in the fund.
Luckraft will continue as one of the managers within the ‘long only’ Skandia UK best ideas fund.
SIG’s investment research team will continue to monitor managers that run long/short funds and will endeavour to move back to ten managers when market conditions allow and it is in the best interests of investors to do so.
SIG chief investment officer James Millard says: “Our key objective for this manager change is to ensure this strong investment performance continues.
George Luckraft remains a highly rated fund manager by Skandia and will continue to run his mandate within the UK best ideas fund.”