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First State shuffles co-managers on four funds

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First State has made several manager changes to its emerging market funds, which has included replacing Glen Finegan from the £4.4bn First State Global Emerging Markets Leaders fund with Tom Prew.

Prew will be co-managing the fund with Jonathan Asante and has already worked with him on Ireland-domiciled $73m First State Global Emerging Markets Select fund since 2011. 

Earlier this year, it was announced that the First State Global Emerging Market Leaders fund was due to be soft-closed in September due to size concerns.

Finegan will work with Asante again on his new remit – co-managing the £35m First State Worldwide Equity fund.

Elsewhere, Nick Edgerton is now working on the £71m First State Worldwide Sustainability fund with David Gait as co-manager.

Gait himself has now become co-manager of the £861m First State Asia Pacific fund.

All manager swaps and changes were completed as of the end of July 2013. The lead managers on all four portfolios have not been changed.

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