BT Investment Solutions has terminated its international growth mandate with Marvin and Palmer, appointing Trilogy to manage the portfolio.
"We liked and respected Marvin and Palmer. The quantum of risk and tracking error that the manager generated, however, was too high for our single sector offering," BT Investment Solutions head Stewart Brentnall said.
The multi-manager's last international equity overhaul was finalised in August 2007.
Under the changes, BT hired Alliance Bernstein, Trilogy Global Advisers, AQR Capital and MFS.
Following these manager appointments, BT terminated its mandate with the Intech International Share Active Fund.
