Skandia hands £44m mandate to US manager Cupps
Giant Global Dynamic Equity fund boosts exposure to US.
Skandia’s François Zagamé has enlisted Chicago-based Cupps Capital Management to run a £44m mandate on his £1bn Global Dynamic Equity fund.
Cupps Capital is led by founder and chief investment officer Andrew Cupps.
Mr Zagamé said Cupps focuses on the more “inefficient small and mid-cap segments” of the market adding that stock selection and portfolio construction are bottom-up.
“Since adding Wellington Management to the fund in June, we have been looking to supplement its appointment with another manager that is expected to deliver significant outperformance in a bull market,” Mr Zagamé said.
“Andrew, with his aggressive investment approach and pragmatic stock selection process, is the ideal candidate and we are confident that his experience and investment style will deliver significant returns for the fund.”
No managers have been removed from mandates on the fund. The new position has been funded from money that was previously invested passively.
At the end of June, the fund had a 23 per cent weighting in the US through four companies - QMA, Wellington US, Lapides and State Street.