Skandia Investment Group is moving a GBP46m global equities mandate – one of ten in its GBP310m Global Best Ideas Fund – to Tom Marsico at Marsico Capital Management.
Skandia Global Best Ideas has returned 27 per cent since its launch in June 2006 against a peer group return for the IMA Active Managed sector of 19.01 per cent.
Marsico has managed portfolios since the 1980s. He has been managing a ten stock portfolio for a North American client since 2000.
Lee Freeman Shor, SIG portfolio manager, says: “Upon analysis of Tom Marsico’s ten stock mandate we noted that not only has it generated persistent alpha, but also, SIG’s trading analysis demonstrated that Marsico’s ideas, and the execution of those ideas, has been very good over the last ten years. Moreover, he is passionate about focused investing.”
SIG is moving the GBP46m mandate from Martin Currie because it believes Marsico’s approach has proved to be better suited to the ten stock portfolio approach in the most recent trading environment and that of the foreseeable future. In particular, it says Marsico’s mix of macro and shorter term trading around names held is seen as highly desirable in a ten stock mandate.