Wee Li Hee to replace Martin Lau on First State trust

Wee Li Hee is set to be appointed as co-manager of the £270m Scottish Oriental Smaller Companies investment trust when she returns from maternity leave on July 1 2014.

Ms Hee was set to be appointed as manager of the First State trust when Susie Rippingall retired in April 2013.

But Angus Tulloch and Martin Lau instead took over as co-managers as Ms Hee departed on maternity leave.

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Mr Tulloch is set to continue as co-manager but Mr Lau will step back from direct portfolio management on the trust and Ms Hee will take primary responsibility for stock selection when she returns.

Tom Allen will continue as deputy manager on the trust, while Mr Lau will contribute investment ideas as part of First State’s team.

Mr Lau will continue to run the group’s offshore and onshore First State China funds and the offshore First State Asian Equity Plus fund.