Tulloch steps back from partner duties at First State

First State's joint managing partner Angus Tulloch is stepping back from his role to concentrate solely on fund management.

Tulloch will now wholly focus his efforts in managing the £5.8bn First State Asia Pacific Leaders and £820m First State Asia Pacific funds, along with the Scottish Oriental Smaller Companies Trust, which he takes over next year from Susie Rippingall. The manager's step back leaves Stuart Paul as the sole managing partner at First State Stewart. "Angus has been instrumental in the development of the talent within First State Stewart, as well as our investment philosophy and process, which are now well established," said Paul. "This new development will see Angus devote his energies ...