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Tulloch stepping down as First State joint managing partner

Asia Pacific and emerging markets fund specialist Angus Tulloch is stepping down as joint managing partner at First State Stewart to concentrate on his fund management responsibilities.

Tulloch (pictured) joined Stewart Ivory in 1988, the firm was subsequently bought by First State Investments. First State Stewart is First State’s equities team focusing on global emerging markets.

During his time at First State Tulloch has built a strong track record as a fund manager and has become a firm favourite in the IFA market.

Tulloch has managed a raft of portfolios in Asia and global emerging markets space in his time at First State. He currently manages the £5.8bn First State Asia Pacific leaders fund and the £781m First State Asia Pacific fund. He will also continue in his role as head of Asia Pacific ex-Japan.

Both of Tulloch’s funds have strong track records and are first quartile over five years in the Asia Pacific ex-Japan sector, according figures from the Investment Management Association. The First State Asia Pacific leaders fund is up 75 per cent over that period, while Asia Pacific fund is up 72 per cent. First State soft-closed the Asia Pacific leaders fund in January 2012.

First State managing partner Stuart Paul says: “I would like to thank Angus for his invaluable contribution to the team as Joint Managing Partner. He has been instrumental in the development of the talent within First State Stewart, as well as our investment philosophy and process, which are now well established. This new development will see Angus devote his energies more exclusively to investment matters, where his main focus and enthusiasm have always been.”


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