First State Global Emerging Markets Funds - Change of Manager

By Alexander Davies | 14 Feb, 2008 

First State has announced that Jonathan Asante has taken over as the lead manager of both the Global Emerging Markets and Global Emerging Markets Leaders Funds. Previously Angus Tulloch and Jonathan Asante have co-managed the funds, with Angus Tulloch being the lead manager. Now Jonathan Asante has become the lead manager. Angus Tulloch will remain as lead co-manager on the Asia Pacific Funds.

Jonathan Asante joined First State from Framlington just over three years ago as an analyst. He worked closely alongside Angus Tulloch as a member of the emerging markets and Asian team and became co-manager.

When it was managed by Jonathan Asante the Framlington Emerging Markets Fund was part of the Wealth 150, a list of our favourite funds in each sector. It was removed when he left to join First State. He is one of our preferred managers working in this area and we are pleased to see him running the First State funds. The First State Global Emerging Markets Leaders Fund is also currently a constituent of the Wealth 150.

We have no concerns with this change in the First State team structure. Angus Tulloch will remain a key member of this team and we believe Jonathan Asante to be an excellent manager. The fund is one of our favourite in this sector and remains in the Wealth 150. It is our belief that investors will continue to be well served.