Swip looking to launch developed Asia fund

Scottish Widows Investment Partnership (Swip) is considering launching a developed Asian market-focused fund in the second half of 2009. Ian Vose, the head of Swip’s global developed markets team, says the launch depends on investor demand and finding a replacement for Tim Dickson, who joined Invesco Perpetual last week.

“We are finalising the shortlist,” says Vose, who hopes to announce an appointment this autumn. “A developed Asian fund, including Japan, is a logical extension of our product range.”

Vose took on Dickson’s Swip Asia Pacific and Scottish Widows Pacific Growth funds in June, but says there have not been any other big changes. The funds, which are run as mirror portfolios, are underweight financials.

Swip has also restructured its emerging markets and Asian equity desks. The firm moved its developed Asia unit from the global emerging markets (GEM) team to Vose’s developed markets group in May.