Columbia Threadneedle is about to drop the subadvisor to a $70.5-million, four-star mutual fund.

Tom Marsico Marsico Capital Management, LLC Founder, Chief Executive Officer, Chief Investment Officer

Columbia [profile] filed to remove Marsico Capital Management [profile] as the subadvisor to the Columbia Marsico Global Fund, effective November 30. Columbia will rebrand the fund as the Columbia Select Global Growth Fund.

MFWire could not immediately reach a spokesperson for Marsico for comment.

Tom Marsico himself — CEO, chief investment officer, and founder of his eponymous shop — has PMed the fund since inception, and he's PMed it solo for a little more than a year. Columbia's own Thomas Galvin, senior PM and head of focused large cap growth, will take over as lead PM of the fund, while senior PMs Richard Carter and Todd Herget will become co-PMs.

"Tom Galvin and his team have a proven concentrated investment approach that we are pleased to provide investors in a global equity portfolio," Columbia spokesman Carlos Melville tells MFWire in an emailed statement.

Indeed, Galvin, Carter, and Herget already PM the $6.8-billion, four-star, bronze-rated Columbia Select Large Cap Growth Fund, and the to-be-transformed fund looks like it will become a global version of that giant.

Columbia has at least four other mutual funds co-branded with, and subadvised by, Marsico: the $883.6-million, one-star Columbia Marsico 21st Century Fund; the $165.1-million, one-star Columbia Marsico Flexible Capital Fund; the $929.8-million, three-star, neutral-rated Columbia Marsico Focused Equities Fund; and the $1.4-billion, two-star, neutral-rated Columbia Marsico Growth Fund.

The five Marsico-subadvised Columbia funds have a combined $3.449 billion in AUM. That works out to 28 percent of Marsico's $12.31 billion in total AUM (as of August 31) and about 2.1 percent of Columbia's $166.476 billion in non-money-market mutual fund AUM (as of July 31). 

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