Goldman Sachs AM loses Skandia mandate

Skandia Investment Group has appointed General Electric Asset Management (GEAM) as sub-adviser for its Skandia European Equity Fund.

GEAM will offer an actively managed high-conviction portfolio, focusing on research-driven stock picking. GEAM replaces the previous manager, Goldman Sachs Asset Management.

James Millard, chief investment officer for Skandia Investment Group, said: “We are delighted to be bringing GE Asset Management into our stable of sub-advisors. GEAM’s focus on high quality companies, with proprietary products in growth markets has delivered outstanding results over many years.

“We are fortunate to have found a partner who has the capacity to run a highly concentrated portfolio, in a risk controlled manner. We believe GE Asset Management’s skill set will match perfectly the Fund’s objectives and significantly benefit our clients.”

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