First State unveils Australian Growth fund

First State has launched an offshore Australian Growth fund focusing on large-cap companies, headed up by Naz Ressas.

The dollar-denominated First State Australian Growth fund is a concentrated portfolio of 25-30 large-cap stocks, benchmarked against the S&P/ASX 100 index. The Dublin-domiciled fund may also invest in companies that are incorporated or have the majority of their economic activity in Australia but are listed elsewhere in the world. "Solid economic conditions in Australia are driving demand for an Australian equities based product in other markets around the world and our team, with its extensive experience in this area, is well-placed to deliver on this requirement," said Gary Withers,...