First State increases GEM fund AMC

First State has increased the annual management charge on its £546m Global Emerging Markets fund.

The AMC was increased from 1.5% to 1.75% on the A share class and from 0.85% to 1.00% on the B share class from the 1 February. The charges for the £810m Global Emerging Markets Leaders fund have not changed.

First State regional managing director, EMEA Gary Withers says: "These increases mirror those previously undertaken in our Asia Pacific Fund.

"In both cases we believe a premium fee is justified given the long term track records of the funds and, significantly, our approach to managing capacity in these funds, each of which has been closed to new investors since 2003."

Lead-managed by Jonathan Asante since January 2008, the fund has returned 142.8% over the five years to 15 February, compared to an IMA Global Emerging Markets sector average of 113.1%.