Scottish Widows Investment Partnership’s (Swip) multi-manager business selected Legal & General Investment Management (LGIM) to run a £267m (€308m) segregated active equity mandate.
The mandate, which will mirror of the Legal & General Growth Trust, managed by Robert Churchlow, is a part of SWIP’s £1.1bn flagship Multi Manager UK Equity Focus Fund.
The Legal & General Growth Trust was launched in 2000 and has been managed by Churchlow since April 2006. It has £220m in assets under management and has had top quartile performance over one and five years. The fund has a best ideas focus, coupled with a high conviction and contrarian approach. It is based on 25 equally weighed stocks allowing the portfolio composition to be shifted both quickly and opportunistically whenever necessary.
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