Ex-First State star Nicholas plotting a comeback

Andrew Nicholas, who managed the £149m First State Global Property Securities fund for six years before he left the firm in August, has said he is planning a return to fund management.

The head of securities, who has spent his time off travelling with his new wife, told Investment Adviser that he is currently “in talks” with some investment houses in the City.

Currently based in Sydney, Australia, the manager is not ruling out relocating to the UK if the right opportunity presents itself.

He said: “It was frustrating trying to run a global fund out of Sydney. Relocating is a possibility. My wife is from the US and I have a British passport and family here.”

However, the manager added he was not going to “grab the first thing that comes along” and that he “is not concerned with hierarchy”, but will be looking specifically at global or Asia funds.

“I am looking at a few things. I am meeting with a couple of global management houses here, but may even start something on my own - although that would require financing,” he said.

“I have been approached with non-executive director roles in Sydney, and that is also a possibility.”

Mr Nicholas led the First State Global Property Securities fund to the top of the IMA Property sector in terms of its performance over three and five years during his time at the helm. He also took the £9.1m Asian Property Securities fund to the top quartile of the sector, based on five year performance.

The group replaced Mr Nicholas with Stephen Hayes as head of property securities, who started at the firm on September 10. He is based in Sydney where the company is known as Colonial First State Global Asset Management.

Mr Hayes previously worked at the firm but left in 2006 to join another Sydney-based asset management company.