First State funds ranked as top performers of 2007

Two of First State Investments UK Ltd’s (“First State”) funds have been ranked in the top ten of best performing funds in the UK for 2007 - according to data published last week from Lipper.

First State is also the only asset manager to have more than one fund listed within the top ten itself.

The First State Global Resources Fund, managed by Dr Joanne Warner returned 54.87% over the year to 31 December 2007 and is the only fund in the top ten rankings not to invest directly in the emerging markets. The First State Indian Subcontinent Fund, managed by Vijay Tohani returned 54.34% over the same period.

Charlie Metcalfe, CEO of First State Investments said: “The success of these two funds during 2007 emphasises the need for specialisation and diversification. At First State we are aiming to focus our investment skills on providing clients with a varied range of specialist funds and two differentiated funds in the top ten is a testament to our successful strategy.”