First State moves Alistair Thompson off Asia Pacific Leaders

First State has removed co-manager Alistair Thompson from its £5.7bn First State Asia Pacific Leaders fund, replacing him with Richard Jones.

Mr Thompson had been a co-manager on the fund with lead manager Angus Tulloch since December 2003.

First State said Mr Thompson was still a member of the First State Stewart investment team in Singapore.

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The manager has been taken off the FCA register as his role now no longer requires him to have regulatory permissions in the UK.

“After a routine review of our approved persons register we have deregistered Alistair Thompson,” the group said.

“He lives in Singapore, is employed by First State Investments (Singapore) and is regulated by the Monetary Authority of Singapore. As he doesn’t spend more than 30 days in the UK in any 12 month period, there is no requirement for him to be registered as an approved person with the FCA.

“Alistair Thompson remains a full member of the First State Stewart team, working out of our offices in Singapore.”

The group added that each portfolio had a lead, co and deputy manager and the lead manager responsibilities for the Asia Pacific Leaders fund “remain unchanged”.

“Emphasising our team approach we review client portfolio responsibilities regularly and change co and deputy management responsibilities from time to time,” First State added.

“As a result of the most recent review Richard Jones has replaced Alistair Thompson as co-manager of our Asia Pacific Leaders portfolios.”

Prior to joining First State, Mr Thompson had spent nine years at Edinburgh Fund Managers, managing a range of open and closed-ended funds and was latterly head of Asia Pacific ex Japan.