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First State launches UK midcap product

First State Investments is launching a &#39British Midcap&#39 product early in 2002, to be run by its head of UK equities Derek Lygo.

The fund will hold medium-sized UK companies and will be benchmarked to the FTSE Mid-250 (ex-investment trusts).

First State chief investment officer Stuart Paul says: “The new British Midcap product and the First State British Fund are core to our UK equity product offering.  Derek&#39s reputation precedes him and I&#39m confident that the culture at First State will bring out the very best in such a high calibre portfolio manager, allowing him the freedom and discretion to make investment decisions within our investment process.”

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