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First State's Asante loses AAA-rated Finegan for a year
by Matthew Goodburn on Oct 17, 2013 at 11:54
First State's global emerging market equities manager Glen Finegan is to take a year long sabbatical from the firm.
Citywire AAA-rated Finegan, who works as part of the GEM team headed up by Jonathan Asante, is lead manager of the €44 million Worldwide Equity fund, and a co-manager on the firm's top performing First State Global Emerging Markets Leaders fund.
Finegan has been at the firm since 2001 and last year he and Asante switched from Edinburgh to work from First State's Singapore office. He has worked alongside Citywire AAA-rated Asante on the GEM Leaders fund since January 2008.
Over the three years to the end of September 2013, the First State GEM Leaders fund has strongly outperformed, returning 28.6% compared to -4.4% by the average manager in euro terms.
A spokesperson at First State confirmed Finegan's year long break but said there would be no other manager changes.
He added: 'Jonathan Asante will continue to be lead manager on the First State Global Emerging Markets Leaders fund with Tom Prew remaining as co-manager.'
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