Platform provider Skandia has terminated its equities mandate with the Challenger Smaller Companies Fund and replaced it with small caps boutique Kinetic Investment Partners.
Kinetic was formed in 2005 by ex-HSBC asset managers Richard Sharp and Jonathan Findlay. They each have a 40 per cent stake in the business, with the remainder owned by Challenger.
"We like the calibre of the people at Kinetic and the fact they have a stake in the business," Skandia senior investment analyst Bianca Rose said.
Skandia said it had also appointed Mellon Global Investments to its absolute return fund.
