Regional expertise key for First State's Nicholas

First State Global Property Securities fund returns seven times the peer group average as global focus pays dividends.

First State is mainly known in the UK for its range of emerging markets funds, but it also has offerings in more specialist areas, such as its top-performing Global Property Securities fund. Since Andrew Nicholas took on lead management of the fund in 2009, the £67m portfolio has climbed to the top rung of the IMA property sector over three years, posting a return of 43% against an average of 7.3%, according to Morningstar. Nicholas heads up a team of four portfolio managers in New York, three in London, two in Hong Kong and two in Sydney. Nicholas said regional expertise is crucial t...