First State adds analyst on Global Resources fund
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First State Investments has hired Peter Mangano as a senior analyst on its £646.8m Global Resources fund.
Mr Mangano joins the emerging markets specialist’s Sydney office from IPD Analytics, a Florida-based financial consultancy, where he was chief operating officer.
Fund manager Joanne Warner has led the First State Global Resources fund to a second-quartile five-year return of 9.8 per cent, compared with an IMA Global sector average of 4 per cent.
However, over five years to the end of June, it underperformed its benchmark, returning 9.6 per cent compared with 21.7 per cent for its composite index, which is 75 per cent based on the HSBC Global Mining index and 25 per cent on the MSCI All-Country World Energy index.
Mr Mangano’s appointment comes after First State hired Tal Lomnitzer as a portfolio manager to the Global Resources fund in December 2011.