SIG adds US mandate to £1bn Global Dynamic Equity fund

Skandia Investment Group (SIG) has handed US firm Wellington Management a £52m mandate within Francois Zagame's £1bn Skandia Global Dynamic Equity fund.

The aggressive US strategy will be managed by Peter Higgins, who will look to add beta to the US proportion of the portfolio through investing in off-benchmark companies where he sees valuation anomalies. No manager change has been made to accommodate the new mandate, instead assets have been reallocated between the other three US managers in the fund - Lapides, State Street and QMA. Commenting on the appointment, Zagame (pictured) said Higgins will focus on short term mispricing in the US equity market, investing in 50-80 companies. "We have been looking for a while to add an aggr...