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First State head of global resources resigns

First State head of global resources David Whitten is leaving the firm after 13 years to take a career break.

Whitten joined First State in 1997 as part of the firm’s first move into the global resources market and launched both wholesale and retail funds.

Whitten managed the £698m global resources fund from its launch in October 2003 until November 2006, when management of the fund passed on to Joanne Warner. In the past five years the fund has returned 166.7 per cent according to figures from Morningstar.

Warner is to take on Whitten’s role as head of global resources in addition to her fund management duties. First State is currently looking to supplement the team with three new appointments, including one in the UK as it sees London as a main centre for global mining companies. The entire global resources team is based in Australia.

Whitten is set to relinquish his role at the end of next month.

First State says Whitten will support the smooth transition of his responsibilities to Joanne Warner over the coming weeks.

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