Angus Tulloch quits First State managing partner role
Star Asian equities manager is to concentrate on fund management after giving up managing partner role.
Angus Tulloch, First State’s veteran Asia Pacific equities manager, is stepping down from his role as joint managing partner of sub-brand First State Stewart to concentrate on fund management.
Mr Tulloch will continue as head of Asia Pacific ex Japan equities, as well as continuing to manage the market-leading £5.7bn First State Asia Pacific Leaders and £802.1m First State Asia Pacific funds.
He will also be taking over as co-manager of the Scottish Oriental Smaller Companies investment trust from Susie Rippingall in April 2013.
Stuart Paul, managing partner of First State Stewart, said Mr Tulloch had been “instrumental” in the development of the company and its investment process.
First State Investments launched the First State Stewart brand in February to distinguish its respected emerging markets and Asia Pacific equities teams from the rest of the First State business.
As well as Mr Tulloch’s funds, First State Stewart includes Jonathan Asante’s £697m Global Emerging Markets and £2.5bn Global Emerging Markets Leaders funds, and Martin Lau’s £545m Greater China Growth fund. All three funds are top quartile in their respective IMA sectors across one, three and five year periods, according to Morningstar.
The Greater China Growth fund was soft-closed at the beginning of this year, along with four other First State Stewart funds.