Skandia Investment Group (SIG) has appointed Challenger-backed international equities manager Five Oceans Asset Management to manage its US$350 million ($340 million) Skandia Global Equity Fund mandate.
The mandate was previously run by JP Morgan Asset Management.
"Five Oceans Asset Management are an experienced firm who deliver outperformance beyond the broader markets by having an absolute return mindset," SIG head of investment research and portfolio manager Adam Smears said.
"In reality, this translates to a portfolio filled with high conviction names, with the commensurate lower volatility managed through an adept use of derivatives."
"It is rare to find managers with this laser focus on a client's outcome combined with the technical skill to execute sophisticated, but common sense risk management programme."
"We firmly believe this is the approach to equity investing our clients now seek," Smears said.
Five Oceans chief executive officer Ross Youngman said the mandate would be managed in a similar manner as the firm's World Fund strategy.
"We're excited about taking over the management of the Skandia Global Equity Fund, and to be broadening the distribution of our investment strategies internationally," he said.
