Investec's Mundy handed £170m SIG mandate

Skandia Investment Group (SIG) has awarded a £170m UK equity mandate to Investec Asset Management's Alastair Mundy.

Replacing UBS, Mundy's mandate runs across a number of SIG products, including the £283m Diversified fund and the £400m risk-based Spectrum range. SIG senior fund manager Ryan Hughes says the addition of Mundy's brings the first pure contrarian approach to the Skandia vehicles. "This is a long-term style we were keen to get exposure to and Alastair Mundy is a proven manager we hold in high regard," he says. "Mundy and his team have a very strong investment approach with an impressive long term record and the approach combines well with other UK managers we work with. "While we w...