Skandia rotates Best Ideas managers

best_ideaSkandia Investment Group has handed Tim Steer of Artemis a £38 million (€45.5 million) mandate in its Skandia Global Best Ideas fund and a £24 million mandate in its Skandia UK Best Ideas fund.

Steer, who will be managing part of the UK equity portfolio of those funds, replaces Kames Capital’s Audrey Ryan.

He will invest across the market capitalisation spectrum.

“The problems in both the UK’s and the eurozone’s economies are well known and may, or may not, be in the price,” Steer says. “But we still see ample opportunities to make money from UK companies doing very well in emerging markets and the US.”

With the Best Ideas concept, Skandia aims to select up to ten of the leading European fund managers and asks them to pick their ten best ideas to combine them in one single fund.

Two of Steer’s best ideas are Weir Group and Aggreko.

©2012 funds europe