Skandia Investment Group (SIG) has been given the green light from shareholders to revamp the group's equity income fund of funds and hand the portfolio to O'Shaughnessy Asset Management.
The £66m fund, previously a fund of funds run by Francois Zagame, will now be a single manager portfolio. Ryan Hughes, senior fund manager at SIG, says the overhaul in investment philosophy will allow the fund to tap into dividend growth opportunities around the globe which the group says look more attractive than in the UK. "We believe dividend growth will increasingly be stronger outside of the UK and hence we have expanded the scope of our equity income fund," says Hughes. "With inflation being relatively high compared to recent times in the UK, it is now more important than eve...
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