First State pulls out of VCT sector

First State Investments has pulled out of the VCT sector with its vehicles and VCT manager Paul Jour...

First State Investments has pulled out of the VCT sector with its vehicles and VCT manager Paul Jourdan transferring to Noble Fund Managers. According to Charlie Metcalfe, chief executive at First State, the firm has been looking to exit the VCT sector as it no longer sees the vehicles as a natural fit in its current suite of products. Jourdan is joining Noble and will stay manager of First State Investments’ Aim VCT and British Smaller Companies fund. Jourdan has been head of UK equities at First State since November 2004, and managed the First State British Smaller Companies fund sinc...