Wellington Management’s Dirk Enderlein will replace Baring Asset Management’s James Buckley on the Skandia European Best Ideas fund.
Lee Freeman-Shor, the manager of the €363.7m (£312.4m) fund, has awarded a €34m mandate to Enderlein and removed Buckley from the portfolio’s sub-adviser team.
“This opportunity cost decision was driven by the fact that I was keen for the portfolio to have exposure to the structural growth stocks that Dirk buys as well as his execution skills,” Freeman-Shor explains.
Enderlein worked on the Skandia European Best Ideas fund two years ago, when he was with RCM. He left the portfolio when he moved on from RCM but has been brought back now he is “firmly settled” at Wellington.
Last year, Enderlein was awarded a £50m European equity mandate with the £981.6m Skandia Global Dynamic Equity fund – another portfolio he had previously worked on while at RCM.
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