Skandia Investment Group (SIG) has cut Julius Lipner's £7m mandate from its Skandia UK Strategic Best Ideas fund because of uncertainty following the strategic review announcement by Aviva Investors.

 The mandate will instead be distributed around the fund's remaining managers.

Lee Freeman-Shor, portfolio manager for Skandia Investment Group, said: "We have made the decision to remove the mandate from the Skandia UK Strategic Best Ideas fund due to the uncertainty and unknown consequences, created by Aviva Investors' announcement that it plans to review active equity management and concentrate on fixed income, real estate and multi asset solutions."

"While Julius Lipner has done a good job for the fund, and we wish him all the best for the future, we believe that this decision is in the best interest of our investors."

 Remaining managers: