New manager announced for First State Global Resources fund

9th June 2017 - First State Investments has announced that Todd Warren will take over the leadership of the Global Resources team from Dr Joanne Warner when she retires on 1 July 2017.

At the same time, Tal Lomnitzer will become deputy head of global resources and will have lead portfolio management responsibilities for the First State Global Resources fund, having been deputy portfolio manager to Joanne Warner since 2011.

The company described the move as “the realisation of a long-standing succession plan for the Global Resources team”. They said that goals have been carefully mapped out and met, indicating that the reshuffled team is now well placed to assume responsibilities. Joanne will remain on board until August 2017 and will continue to support the team through the transition period.

Darius McDermott, managing director of Chelsea Financial Services, said “I’ve met Joanne a number of times over the years. First State has one of the few resources teams in the industry and has always had a fairly good track record.

“I don’t think it’s anything for investors to be particularly concerned about: it’s a solid fund and a solid team.”