SIG awards Europe Best Ideas mandate to BlackRock's Plackett

Skandia Investment Group(SIG) has handed a €34m mandate to BlackRock's Richard Plackett in its €345m European Best Ideas fund.

Plackett, a bottom-up UK specialist, heads up BlackRock's £1.5bn UK Special Situations fund. He replaces US-based institutional manager Acadian Asset Management. Lee Freeman Shor, a portfolio manager at SIG, said Plackett has a good long-term track record, which is consistently ahead of the FTSE UK All Share index. "Over the last five and a half years he has delivered a return of 133%, massively outperforming the FTSE UK All Share index which delivered a 33% return and the average UK manager who has returned 31%," said Freeman Shor. In a recent interview with Investment Week, Pl...