Today's announcement by Stewart Investors that Angus Tulloch and Jonathan Asante are stepping down from a number of funds will have unsettled investors, perhaps far more than any other high profile manager moves of the past.
Vehicles including the £705m Asia Pacific and £678m Global Emerging Market funds have been mainstays of portfolios for decades. Even during times of stress for the regions in which they invest, such as this summer's sell-off, investors have been reassured by Tulloch and co at the helm of the portfolios. Indeed, Tulloch has been widely credited with opening up investing in Asia and EMs for the retail market since he set up the team in 1988. It is a tribute to the manager and his team that they have managed to attract significant assets in a region which would once have scared domestic-foc...
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