Wealth Shortlist Update: Stewart Investors Indian Subcontinent All Cap

We’ve taken the decision to remove the Stewart Investors Indian Subcontinent All Cap fund from the Wealth Shortlist.

Stewart Investors has announced that Sashi Reddy and David Gait, lead manager and co-manager of the Stewart Investors Indian Subcontinent All Cap fund, have left the business with immediate effect. Sujaya Desai, a senior analyst in the team, has also departed.

Jack Nelson will become lead manager of the fund. He’ll be supported by co-manager Doug Ledingham.

Nelson joined Stewart Investors in 2011 and has most recently been lead fund manager of the group’s Global Emerging Markets funds. Ledingham joined the team in 2013 and has fund management experience on Asia Pacific funds.

Our view

The team at Stewart Investors has typically been stable over the years and it’s unusual to see senior members of the team leave the business.

The departure of Sashi Reddy and David Gait is disappointing. They’re both experienced investors with long track records of investing across Asia, particularly in India. As two of the longest-serving team members, they’ve been crucial in developing the culture of stewardship amongst the wider team. This investment philosophy is one we hold in high regard.

Jack Nelson and Doug Ledingham have gained valuable fund management experience in their time at Stewart Investors, including managing funds that invest more broadly across Asia and emerging markets. However, this will be their first time managing a fund that invests solely in the Indian subcontinent. The loss of two senior investors also means that Nelson and Ledingham are assuming responsibility on other funds run by the team. This increased workload could detract from the amount of time spent on each fund.

The news of Reddy and Gait’s departures from Stewart Investors leaves only a short timescale for Nelson and Ledingham to take on the additional responsibilities.

While we continue to appreciate the philosophy at Stewart Investors, Reddy and Gait’s departure means we no longer have sufficient conviction in the fund’s future performance potential and we have therefore removed it from the Wealth Shortlist.

Although we're removing the fund from the Wealth Shortlist, this isn't a recommendation to make any changes to an investment portfolio. Investors should make sure any investments match their investment goals and attitude to risk and are held as part of a diversified portfolio. If you're not sure if an investment is suitable for your circumstances, please seek personal advice. Investments go up and down in value so you could get back less than you invest.

Past performance is not a guide to the future. Source: Lipper IM to 31/07/2025.

Find out more about Stewart Investors Indian Subcontinent All Cap, including charges

Stewart Investors Indian Subcontinent All Cap Key investor information