Hedge fund manager Tim Steer of Artemis has been awarded a $95.8 million (£62 million) investment mandate from two Skandia Investment Group funds.
Steer, who runs UK equity strategies, has been given mandates for SIG’s global best ideas fund and its UK-version. Many of the investment strategies in the manager of manager funds are run by hedge fund managers.
Steer takes over from Audrey Ryan of Edinburgh-based Kames Capital and he will invest across the market capitalisation spectrum.
Lee Freeman-Shor, portfolio manager for SIG, says: “Tim is a hugely experienced and highly skilled manager and is well known to us