First State to offer income share class to investors

First State Investments (UK) Limited has announced that it has introduced a new income share class for its First State Asia Pacific and First State Asia Pacific Leaders Funds.

With immediate effect, investors will be given the added benefit of being able to select an income share class in these two funds. Following the recent decline in UK interest rates, First State has responded to client demand for the introduction of this new share class for these specific funds, which allows investors to physically receive the income component of their investments. Investors will have the opportunity to receive income on a semi-annual basis through both of these funds.

Launched over two decades ago, the First State Asia Pacific Fund, managed by Angus Tulloch and Martin Lau has produced an annualised net return over the last ten years of 15.1% (31 October 1999 to 31 October 2009). Since inception, the fund has risen 1797.5% net against peer group and benchmark returns of 934.2% net and 467.8% respectively. The Fund has been soft-closed to additional investors since 2003.

The First State Asia Pacific Leaders Fund, launched in late 2003 is managed by Angus Tulloch and Alistair Thompson. Since inception the fund has increased 166.2% net against respective peer group and benchmark returns of 122.8% net and 125.3%.

Gary Withers, Regional Managing Director EMEA, First State Investments said: ‘We believe that the launch of an income share class is a logical step that allows us to address client demand for additional choice when investing in our Asia Pacific and Asia Pacific Leaders Funds. The launch of formal income share classes in these funds will provide existing investors with added flexibility to suit their individual circumstances.'