Skandia Investment Group (SIG) has stripped a £30m Global Best Ideas fund mandate from Aberdeen and handed control to Treasury Asia Asset Management.
Treasury Asia, headed by Peter Sartori, is a specialist Asia Pacific boutique with offices in Sydney and Singapore.
The £445 Skandia Global Best Ideas fund, featuring the 10 best stock ideas from 10 different managers, has returned 25% since launch almost two years ago.
SIG CIO James Millard says the firm constantly reviews its mandates to ensure the best possible managers are in control.
“Treasury Asia has demonstrated an exemplary track record of managing Asian equities and we are confident that they will add significant value to the Global Best Ideas fund,” he says.
“We continue to hold Aberdeen’s disciplined and rigorous investment approach in the highest regard.”
Sartori adds: “Asian equities are offering some very interesting opportunities at the moment and we are confident we shall be able to capitalise on them in the style of the fund.”IFAonline
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