Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

First State reveals handover plans for Tulloch’s trust

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 or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter