InvestmentsOct 8 2015

First State to rename Tulloch & Asante funds

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First State to rename Tulloch & Asante funds

First State Investments has confirmed it will rebrand funds run by Angus Tulloch, Jonathan Asante and others following the split of its business earlier this year.

As of November 2, all funds run by Stewart Investors will be renamed to reflect the creation of the subsidiary business in July.

Mr Asante’s £2.4bn First State Global Emerging Markets Leaders fund, for example, will become the Stewart Investors Global Emerging Markets Leaders fund, while Mr Tulloch’s flagship £7.6bn First State Asia Pacific Leaders portfolio will become the Stewart Investors Asia Pacific Leaders fund.

The move comes after the group announced in March that it was splitting its funds business into two divisions: Stewart Investors and First State Stewart (FSS) Asia.

Stewart Investors is comprised of the GEM, Worldwide and Sustainability fund ranges, as well as Asia Pacific funds including Mr Tulloch’s Asia Pacific Leaders, and is based in Edinburgh.

FSS Asia works out of Hong Kong and manages mainly single-country mandates within Asia, as well as the Asia Equity Leaders, Asia Select, Far East Leaders and Greater China funds.

In a letter to investors, First State stressed the rebrand did not mean changes to the funds’ investment objectives or policies. Funds managed by FSS Asia, as well other First State portfolios, will not be renamed.

First State said in March that it was splitting the investment teams due to the growing scale of the First State Stewart fund management business.