SIG strips JPM of $350m mandate

Skandia Investment Group (SIG) has removed J.P. Morgan from its $350m Skandia Global Equity fund, handing the mandate to Five Oceans Asset Management.

The mandate was formerly managed by JPM's Sandeep Bhargava and Howard Williams. International equities specialist Five Oceans will now take on the management of the fund, using  a diversified portfolio of sectors and styles while aiming to significantly outperform the MSCI World over a rolling three- to five-year period. Five Oceans takes a high conviction approach, focusing on 50 core holdings, and using hedge and derivative strategies to manage risk, SIG said. The group will run the Skandia Global Equity fund in a similar manner to the Five Oceans World fund. Adam Smears, head...