Top performing First State property manager exits

Marco van Bussel, co-manager of the top performing First State Global Property Securities fund, has left the firm.

The departure of Van Bussel (pictured) comes as First State restructures its property division and follows the exit of Andrew Nicholas, formerly head of property securities at the group, in August. Under the managers' stewardship the £132m First State Global Property Securities fund is one of just a handful of vehicles to have delivered a positive return in the IMA property sector over the past five years. The fund has returned 13.9% in the five years to 12 October, according to Morningstar. Over the same period the average fund in the sector has lost 16.5%. Nicholas was replaced l...