Skandia drops Walker from Global Best Ideas

Skandia is replacing Martin Currie's Tom Walker from its team of external managers running the Global Best Ideas fund in favour of a US manager used by Gartmore.

Tom Marsico, of Denver-based Marsico Capital Management, is taking over the £46m global equity mandate as Skandia said his style is better-suited to the 10-stock portfolio approach. Marsico also runs the Gartmore US Growth fund while his colleagues run the group’s US Opportunities vehicle. The Martin Currie North American Alpha fund has struggled to perform in the past year, ranking 83rd out of 90 funds. Meanwhile, Gartmore US Growth is 12th over the same time frame.