Who is top of the table of Scotland's best-performing fund managers?

The latest rankings, based on three-year performance to 31 January, see the top 10 predominantly equity managers again unchanged from the previous month but jockeying for position. The top eight all gain AAA ratings, for the second month in a row, and nine out ten make it into the top 400 in the UK-wide league table from Citywire.

Mr Gait had been in tenth position the previous month, ranked 398 overall, but January saw him rocket up to 89th position, the highest occupied by a Scottish-linked manager since early last year. There are 68 rated managers who are A-rated or better in the Scottish table and 98 listed overall, 10 fewer than in December, in an overall European manager universe of 3191.

Among Mr Gait's funds are First State Asia Pacific Sustainability, run by the house's Asian equities team which from July 1 is unusually to be split into two separate operations, divided by a 'Chinese wall'.

First State has said the change is prompted by capacity issues and will restore a "boutique culture" to the two teams, one to be led by veteran nationalist Angus Tulloch, the other by Martin Lau.

AA-rated Mr Tulloch was one of the biggest risers in the latest table, into the top 20 with a jump from 1608 to 751. A-rated Mr Lau's ranking improves from 2674 to 1707.

The table sees Audrey Ryan, equity manager at Kames Capital, maintain her ranking at 125 and her second position. Up from ninth to third is Ben Russon, UK equities manager at Franklin Templeton, who jumps from 244 to 126. He is followed closely at 133 by Jacob de Tusch-Lec, who has figured consistently in the higher echelons over the past year. Mr de Tusch-Lec manages global income and monthly distribution funds for Artemis.

Standard Life Investments take four of the next five places, with December's table-topper Thomas Moore and co-manager of the UK Equity Unconstrained fund Edward Legget split by Colette Conboy, manager of the International Trust account. Jacqueline Lowe slips from fourth to ninth with a ranking down from 1887 to 377, just behind Colin Morton, Mr Russon's co-manager at Franklin. The highest-ranked bond manager is SWIP's Roger Webb in 13th place, one of only two pure fixed interest managers in the top 20.

Dropping out of the list for the first time is Saracen's Jim Fisher, who has stopped managing funds, while his colleague Graham Campbell is among seven new names on the overall list. Among the 16 managers who drop out for performance reasons are six from Baillie Gifford, including global equities manager Patrick Edwardson, three from Kames, and veteran manager Victor Wood of McInroy & Wood.

That leaves Baillie Gifford off the pace in terms of group representation, down from 19 to 13, level with Aberdeen who are up from 10. Franklin Templeton holds sway with an unchanged 21 managers on the list, SLI is down one at 17, and Artemis maintains 11.