Wellington's Enderlein to run European equity mandate for Skandia

Skandia has handed a £50m European equity mandate to Dirk Enderlein at Wellington Asset Management.

The mandate is part of the £864m Global Dynamic Equity fund, run by Francois Zagame. Zagame has entirely sold out of the fund’s passive European exposure, which was managed using State Street derivatives, to make way for Enderlein within the portfolio. Enderlein had previously run part of Global Dynamic Equity when he was at Allianz RCM, as well as being in the manager line-up for European Best Ideas. Skandia removed the mandate, which was also around the £50m mark, when he left the group in 2009. Zagame says Enderlein has a coherent and repeatable investment philosophy focusing on st...