Skandia has shuffled its tactical asset and passive mandates for its Intech multi-manager funds.
The firm has hired AQR Capital and First Quadrant to its Global Trading Services Trust.
Both managers will manage a global tactical asset mandate.
The trust now has four managers, including Barclays Global Investors and Mellon.
"Each manager has a different investment style. By blending them together we were able to get a level of diversification that remains consistent with our investment returns," Skandia chief investment officer Hugh Doherty told Investor Weekly.
In its passive portfolio, Skandia terminated mandates with State Street Global Advisors and Invesco.
The two mandates were awarded to passive manager Vanguard.
Invesco had managed a passive enhanced cash product for Skandia.
"We felt our passive mandates should be managed under one manager. We always look to review our managers to ensure best practice for our clients," Doherty said.
