It has been announced Angus Tulloch will step down as lead manager of the Stewart Investors Asia Pacific Leaders Fund. David Gait, the fund's existing co-manager, will take over lead responsibility of the fund, while Sashi Reddy will be appointed as co-manager. The change is anticipated to come into effect by 1 July 2016.
David Gait is an experienced investor in his own right, having joined Stewart Investors' Asian and emerging markets team in 1997. He has managed the Stewart Investors Asia Pacific Sustainability Fund for almost a decade, on which he has built a successful track record, although past performance should not be seen as a guide to future returns.
|Annual percentage growth|
| Nov 10 -
| Nov 11 -
| Nov 12 -
| Nov 13 -
| Nov 14 -
|Stewart Investors Asia Pacific Leaders||-2.3%||20.5%||14.1%||18.3%||-1.9%|
|IA Asia Pacific ex Japan||-8.6%||8.2%||12.6%||4.0%||-5.3%|
Past performance is not a guide to future returns. Source Lipper IM to 02/11/2015.
David Gait and Sashi Reddy will continue to work closely alongside several other highly-experienced and talented portfolio managers. We are also encouraged that Angus Tulloch, one of the team's longest-standing members, will remain part of the team and act as a vital resource for the remaining managers.
The fund's existing philosophy and investment process will also be maintained, which we view positively. As such we do not expect to see any significant changes to the fund as a result of the management change.
We continue to hold the Asia and emerging markets team at Stewart Investors in high regard, and we have confidence in their ability to outperform their respective markets over the long term. As such, the fund maintains its place on the Wealth 150+ list of our favourite funds across the major sectors at the lowest ongoing fund charge. The Vantage charge of 0.45% per annum also applies.