Skandia axes Luckraft from UK Best Ideas

Skandia has removed George Luckraft from the manager line-up on its £142m UK Best Ideas fund.

The Axa Framlington manager is the latest name to be dropped since Skandia overhauled the fund in February and there are no plans to replace him. His removal comes after a tough few years for Luckraft on the Axa Framlington Equity Income and Monthly Income funds. Equity Income fell 38.6% over three years to 1 July against a peer group average fall of 20.7%, according to Financial Express. Monthly Income fell 40% over the same period, although both funds have beaten the sector average by a small margin over one year. The manager has previously blamed his exposure to small caps and m...