First State Stewart to split in two in bid to overcome 'burden of scale'

First State Stewart, the GEM, Asia Pacific and global equity arm of First State Investments, is to split in two and rebrand in a bid to cope with "the burden of scale", Investment Week can reveal.

The company has written to clients to inform them that, as of 1 July, the business will divide into two investment teams - the Edinburgh-based Stewart Investors, home to managers including Angus Tulloch (pictured) and Jonathan Asante, and the Hong Kong-based FSS Asia. The change will allow each team to move forward as smaller, flexible businesses, First State Stewart said, adding that the move "protects FSS's current business and creates opportunities for further growth". Both teams will remain part of the wider First State Investments business, and there will be no change to any of t...