Following the recent announcement of Dr Warner's retirement in August 2017, we have decided to suspend the First State Global Resources fund's rating. Dr Warner has been lead manager on this fund since 2007 and has headed the global resources team since 2010. We will continue to monitor the fund and are looking to have a meeting with the new lead portfolio manager, Tal Lomnitzer, and the new head of the team, Todd Warren. Both have been closely involved in the strategy for several years, and as such, we would like to understand what this recent development means to them and clarify what changes, if any, there will be to the investment philosophy and process.