First State launches Worldwide Equity fund for Asante

First State has launched a Worldwide Equity fund for the group's Asian and global emerging markets team, to be co-managed by Jonathan Asante and Stuart Paul.

Asante, head of emerging markets at the group, and Paul, joint managing partner of the Asia Pacific and global emerging markets equity team, will invest in a combination of developed and emerging market equities via the fund. It will aim to provide long-term capital growth through a portfolio of up to 120 stocks, and will be benchmarked against the MSCI AC World index. The portfolio will focus on large caps such as Unilever and GlaxoSmithKline, which aim to tap into the growth potential of emerging markets. Alongside these well known names, it will also hold equities domiciled in emer...