Managers at Marsico are at the top of the industry when it comes to eating their own cooking. Almost 80% of the firm’s assets are represented by a manager who invests at least$ 1 million in their respective product, in an effort to align portfolio manager and shareholder interests. Marsico has showcased a durable product shelf. This is demonstrated by the firm's 10-year success ratio of 100%, meaning that 100% of its products have both survived and beaten their respective category median. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. Manager turnover at Marsico has been higher than at peer asset management firms. Turnover in the portfolio-management ranks can happen for a number of reasons, including mergers, liquidations, and portfolio managers changing roles or leaving the firm. In some cases, a change may not signal a serious or immediate problem at the firm, but can still be disruptive for investors, hinder the effectiveness of a firm’s investment processes, or suggest a weaker investment culture.
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