Goldman Sachs loses Skandia European mandate

comedy_tragedySkandia Investment Group has dropped Goldman Sachs Asset Management (GSAM) from a European equity brief to build a different portfolio focusing on high-conviction stocks and "growth at the right price". The firm has appointed General Electric Asset Management to run the Skandia European Equity fund, which will be unconstrained by benchmarks. “The firm undertakes intensive bottom-up research-driven stock selection which underlies all investment decisions,” Skandia said. “The objective is to deliver alpha through a concentrated but diversified portfolio of high conviction.” ©2012 funds europe

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