Skandia Investment Group has given a £45 million US mid cap equity mandate previously managed by Epoch Investment Partners to Lapides Asset Management.

The mandate - part of its Skandia Global Dynamic Equity fund - will be managed by Lapides Asset Management's Steve Wilson and Glenn Sussman.

The US-based boutique manager specialises in the US mid- and small-cap equities markets and was founded by Wilson in June 2005.

The fund is managed by Francois Zagame and has accumulated more than £1 billion in assets since launch in March 2009.

According to Skandia, Lapides focus on 'identifying companies with sustainable competitive advantages' investing in them when share price falls below long-term fair value.

Francois Zagame, portfolio manager of the Skandia Global Dynamic Equity fund, said the pair had an 'extremely thorough research process'able to deliver strong returns.

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