Skandia ditches Artemis' de Tusch-Lec on UK and Global Best Ideas

Skandia has ditched Artemis’ Jacob de Tusch-Lec from its £143m UK Best Ideas and £337m Global Best Ideas funds, in order to concentrate on running his Artemis Global Equity Income fund.

De Tusch-Lec has been replaced by Liontrust's James Inglis-Jones and Gary West on the UK best Ideas fund, with a £28m mandate, while his assets have been spread between four existing managers on the Global Best Ideas fund.

Lee Freeman-Shor, portfolio manager at Skandia Investment Group, said the Liontrust duo will manage a ten stock mandate.

"West and Inglis-Jones' forensic approach to identifying mistakes that people make when making company profit forecasts allow them to spot investment opportunities in companies where others may not.

"This detailed approach coupled with their experience makes them a valuable addition to the fund."

Skandia said the shake-up had been done as de Tusch-Lec focused more on his Global Equity Income fund at Artemis, which was launched in July last year. 

Since launch the Global Income fund is top quartile, generating returns of 26.4%, ahead of the IMA Global averge of 16.6%, according to Morningstar.