Promotion at Colonial for Paul

Colonial First State Investments (CFSI) has appointed Stuart Paul as chief investment officer of its UK investment management business after the departure of Mark Burgess.

Paul now heads up the 45 strong investment team at CFSI, which is the active fund management arm of the Commonwealth Bank of Australia and has over £9bn of assets under management in the UK.

Paul has been promoted from joint head of global emerging markets and has been with Stewart Ivory, which was bought by CFSI and merged with it earlier this year, since 1994.

Angus Tulloch, who was joint head of global emerging markets, now takes complete control of the desk. He also becomes the sole named fund manager on both the £11.6m CFS Emerging Markets Fund and the £43.8m Stewart Ivory Emerging Markets Fund which are due to be merged later this year.

The CFS Emerging Markets Fund has achieved offer to bid returns of 17% over the 12 months to 4 October ranking it 22 out of 35 funds in the Standard & Poor's global emerging markets sector. The Stewart Ivory Emerging Markets Fund is ranked 18 over 12 months to that date with offer to bid returns of 22%. Over three years to that date it is ranked 7 out of 30 funds with returns of -11.6%.

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