First State’s Glen Finegan to take sabbatical

First State Investments’ Glen Finegan is set to leave the firm on a one-year sabbatical in November, Investment Adviser can reveal.

Mr Finegan co-manages the £766.6m First State Global Emerging Markets fund and the £37m First State Worldwide Equity funds, both with Jonathan Asante.

He co-managed the First State Global Emerging Market Leaders fund, also with Mr Asante, until July this year, when he was replaced on the fund by Tom Prew, as revealed by Investment Adviser.

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A spokesperson for First State today confirmed Mr Finegan was to undertake a year’s sabbatical effective from November 2013.

Since Mr Finegan became co-manager of the Global Emerging Markets fund at the start of September 2009, the fund has delivered a return of 69.3 per cent compared to the sector average return of 31.7 per cent, according to data from FE Analytics.

The Global Emerging Markets fund has already been soft-closed but the Worldwide Equity fund remains open to new investment.

Mr Finegan joined First State Investments’ Global Emerging Markets/Asia Pacific ex-Japan team in October 2001 as an analyst. Prior to First State, he worked at Wood Mackenzie as an Asia Pacific analyst.