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Monday, June 17, 2013

More Woes Afflict Marsico

Reported by Tommy Fernandez

It's been a rough spring for Marsico Capital [profile].

MFWire reported last week in its Stork & Reaper section that Delaware Investments [profile] removed Marsico as a subadvisor for the Optimum Large Cap Growth Fund.

The assets managed by Marsico are being moved to the fund's two other remaining subadvisors T. Rowe Price [profile] and Fred Alger [profile].

MFWire reported last month that Harbor Funds [profile] removed Marsico as subadvisor to the Harbor International Growth Fund, hiring Baillie Gifford Overseas Limited as a replacement.

Last August, Harbor closed a Marsico-helmed fund, the Marsico/Harbor Flexible Capital Fund.

Executives at Marsico and Delaware had yet to respond to requests for comment as of press time. 

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