Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

First State reveals handover plans for Tulloch’s trust

by Robert St George on Mar 24, 2014 at 10:47

First State reveals handover plans for Tulloch’s trust

First State has confirmed that it will revert to its original plans for the Scottish Oriental Smaller Companies trust after they were interrupted by maternity leave.

Following the retirement of Susie Rippingall in April 2013, First State had intended for Wee Li Hee to become the £269 million fund’s principal stock selector.

However, due to Hee’s maternity leave Scottish Oriental has been run in the interval by Citywire + rated Angus Tulloch – who managed the trust from its inception in 1995 until Rippingall took over in 2000 – and AA-rated Martin Lau.

Lau will now step back from the trust on 1 July, when Hee will return to take primary responsibility for stock selection. Tulloch (pictured) will remain as co-manager.

Scottish Oriental stated that Lau, as part of the wider First State team, would nevertheless ‘continue to generate investment ideas for consideration’ by Hee and Tulloch.

Hee joined First State in Singapore in 2002 as an analyst, and in 2007 became a deputy manager on several institutional mandates.

Last year Scottish Oriental tweaked its mandate to permit the managers to invest in larger cap firms, moving from focusing on those smaller than $1 billion (£607 million) to those below $1.5 billion (£910 million).

Over the past three years, Scottish Oriental has returned 38.9%, compared with 2.6% from the MSCI Asia excluding Japan Small Cap index.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Sponsored Video: Barings on investing in Frontier Markets

From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the investment trusts

Look up the fund managers

  • Angus Tulloch
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Martin Lau
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet