The £7m mandate currently run by Julius Lipner, manager of Aviva Investors’ UK Absolute return Fund – that is actually down by 9% over the past year – has been taken away from him and will be shared equally across the remaining six managers. They are BlackRock’s Richard Plackett and Mark Lyttleton, Phil Hardy from Polar capital, SVM’s Colin McLean, Tim Steer from Artemis and Henderson’s Paul Casson.
LeeFreeman-Shor, a portfolio manager at SIG, commented: ““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."
