Skandia replaces Goldman Sachs on European mandate

Skandia Investment Group (SIG) has replaced Goldman Sachs as manager of its offshore $158m European Equity fund, installing General Electric Asset Management to run the fund.

General Electric Asset Management, a global investment management firm wholly owned by US-listed giant General Electric, manages over $122bn primarily for institutional clients. James Millard (pictured), chief investment officer for SIG, said the change in manager will see the fund take more aggressive positions. "General Electric Asset Management focuses on high quality companies, with proprietary products in growth markets, and has delivered outstanding results over many years," said Millard. The Skandia European Equity fund is part of the group's 20-strong Signature range, avail...