tulloch handed back scottish oriental

First State’s Angus Tulloch is to return to managing the Scottish Oriental Smaller Companies Trust following the announcement that Susie Rippingall will step down as portfolio manager of the trust in April next year.

tulloch handed back scottish oriental


Tulloch managed the trust from its inception in 1995 until Rippingall succeeded him in October 2000, he will now co-manage it with Wee-Li Hee and Scott McNab.

Rippingall will also retire from First State Investments at this time, following a hugely successful tenure on the fund.

First State said since Rippingall’s appointment in 2000 the investment company’s Nav has increased by 578%, compared to 187% from the MSCI AC Asia (ex Japan) Index and over the same period the share price has risen 761%.

Tulloch said: "I would like to thank Susie for her commitment to the success of Scottish Oriental, and indeed to the broader First State Stewart team. Her talent and dedication as a portfolio manager have been instrumental in generating strong investment performance and making Scottish Oriental a popular choice for investors.

"Hers will be a hard act to follow but, on a personal level, I’m looking forward once again to being more closely involved in the management of the portfolio."

His co-managers Wee-Li Hee and Scott McNabb joined First State Stewart in 2002 and 2001 respectively.

Hee was given responsibility as deputy manager for a number of institutional client mandates in 2007 and has been based in Edinburgh since 2005 working closely with Tulloch.

Meanwhile, McNab has been co-manager of Scottish Oriental since 2004.



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