Stewart Investors Asia Pacific Leaders - Under Review

FUND RESEARCH UPDATE: Fund rating moved to Under Review

Simon Dorricott 9 November, 2015 | 3:59PM
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Stewart Investors has today announced proposed changes to the management of the Global Emerging Markets Leaders, Asia Pacific and Asia Pacific Leaders funds. Asia Pacific Leaders will see longstanding manager Angus Tulloch step down from his lead manager role, with Sashi Reddy coming in to work alongside existing manager David Gait. Gait has been at First State since 1997 and is the lead manager of the sustainability funds run by the group. Reddy joined the group in 2008 and has experience as lead manager on the Indian Subcontinent fund and co-manager with Gait on sustainability funds. In addition to the change in the management team, the investment mandate of this fund is also due to alter, subject to approvals. The fund will in future follow the sustainability strategy developed and used by Gait on his Asia Pacific Sustainability fund, but with a higher market-cap bias. These changes are due to officially come into effect on 1st July 2016, but there is likely to be a period of transition leading up to that date. Although the managers will be following the approach used on their all-cap mandate we need to assess its potential impact on this larger-cap mandate and any amendments that will be required. We will meet the managers in due course to more fully understand their investment approach for this fund and to further assess the changes within Stewart Investors. Pending that meeting we have placed the Stewart Investors Asia Pacific Leaders fund Under Review. The fund previously held a Morningstar Analyst Rating™ of Silver.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Stewart Inv APAC Ldrs Sstby A GBP Acc9.25 GBP-0.56Rating

About Author

Simon Dorricott  is a Senior Fund Analyst for Morningstar

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