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First State EM team seeds global best ideas fund

First State EM team seeds global best ideas fund

First State Stewart, the Asia Pacific and global emerging market equities arm of First State, has seeded a pooled investment fund which aims to transfer its cross-border comparison work in emerging markets over to the developed world.

Wealth Manager understands the £25 million fund has been named the Worldwide Strategy and has been run quietly in the background by First State’s team.

Although First State declined to comment, sources close to the firm said its team has been granted the freedom to invest across sectors and root out its best ideas from both emerging and developed markets. 

As a unit, First State Stewart, home to Angus Tulloch, Stuart Paul, Jonathan Asante, Alan Nesbit and David Gait, has amassed more than £32 billion in funds under management.

It has brought UK investors some of the best-performing emerging market vehicles available.

In recent years, however, options for buying into these strategies have become more limited following the soft closure of popular vehicles like the First State Asia Pacific Sustainability and First State Global Emerging Markets Sustainability strategies.

It is understood the new fund has been designed for investors willing to take a mid to long-term view, and it employs the same highly regarded strategy of identifying cheap but good quality growth stocks that First State has become known for.

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Stuart Paul
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120/185 in Equity - Global Equities (Performance over 3 years) Average Total Return: 36.00%
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