Skandia cuts managers across Best Ideas range

Skandia Investment Group has made a number of manager changes across its Best Ideas fund range.

The group has reduced number of fund managers in its UK Best Ideas fund from 10 to seven - cutting mandates run by Jupiter's Anthony Nutt, River & Mercantile's Dan Hanbury and Ignis Cartesian duo Andrew Kelly and David Stevenson.

Following disappointing relative performance during the markets rally last year, SIG CIO James Millard says the team has been "heavily scrutinising" the line-up and blending of managers to ensure the fund is better placed to deliver more consistent outperformance.

The remaining managers in UK Best Ideas are Aegon's Audrey Ryan, Artemis' Jacob de Tusch-Lec, BlackRock's Richard Plackett, Old Mutual's Luke Kerr, Schroders' Richard Buxton, SVM's Hector Kilpatrick and AXA Framlington's George Luckraft.

In the Skandia UK Strategic Best Ideas fund, the group has reduced the number of managers from nine to seven, dropping mandates from Cazenove's Tim Russell and the Ignis Cartesian duo.

Remaining managers in UK Strategic Best Ideas are BlackRock's Mark Lyttleton and Richard Plackett, Cazenove's Neil Pegrum; Artemis' Tim Steer; Gartmore's Ben Wallace, Polar Capital's Philip Hardy and SVM's Colin McLean.

Meanwhile, SIG has also dropped River & Mercantile's Hanbury from its Global Best Ideas fund, replacing him with Old Mutual's Kerr.