First State Investments (‘First State’) announces the launch of the First State China A Shares Fund, a sub-fund of its Dublin-domiciled UCITS Fund1. The Fund is designed to meet the growing demand from investors for exposure to companies in mainland China, through securities listed on the Chinese Stock Exchanges.
The First State China A Shares Fund (the ‘Fund’) will be managed by the First State Stewart Asia team and incorporate the team’s bottom-up approach to stock-picking with an integrated focus on environmental, social and governance (“ESG”) issues.
The Fund’s investment philosophy places an emphasis on investing in high-quality companies over the long term, seeking those with well-governed management teams and strong and stable franchises.
First State Investments has a long track record of investing in both mainland China and the Greater China regions. The First State Stewart Asia team has been managing funds throughout the region for more than a decade, with assets under management of USD 533m in its current China A shares strategy and USD 4,476m2 in Greater China strategies. The Fund will be managed from Hong Kong by Portfolio Manager Quanqiang Xian, together with the wider First State Stewart Asia investment team.
Michael Stapleton, Managing Partner, First State Stewart Asia said “The launch of the First State China A Shares Fund reflects investor demand for a UCITS product with access to an equity market that is still relatively untapped and underrepresented in investor portfolios. The China A shares market is complex to navigate; we believe that our detailed company analysis through our active, bottom-up investment approach, together with our experience of investing in China, will provide European investors with a good way of accessing this developing market.”
Quanqiang Xian, Portfolio Manager, First State Stewart Asia added: “Ten years ago we were one of the first companies to receive a quota approval under the Qualified Foreign Institutional Investor programme. With the launch of this new Fund we remain focused on investing in companies with good governance and proven capabilities, as well as looking for evidence of increasing ESG standards and rising cash flows. We believe that such companies should provide satisfactory financial returns at lower volatilities for investors over the medium to long term.”
1 First State Global Umbrella Fund plc
2 Data as at 31.12.2018, sourced from First State Investments
For further information please contact:
Name: FTI Consulting (UK PR representative of First State Investments)
Telephone: +44 (0)20 3727 1376
Name: Sarah Mahomed Ross, Communications Manager, First State Investments
Telephone: +44 (0) 20 7332 6844
About First State Investments:
First State Investments is a global asset management business with experience across a range of asset classes and specialist investment sectors. In Australia First State operates as Colonial First State Global Asset Management. First State Investments offers a range of investment solutions to institutional and retail investors globally, including equities, debt, multi-asset and unlisted infrastructure.
Our approach to investment is driven by a commitment to providing the best possible outcomes over the long term for our investors. To achieve this, we ensure our interests are aligned with our investors and uphold a culture of always acting in our clients’ best interests.
This document has been prepared for informational purposes only and is only intended to provide a summary of the subject matter covered and does not purport to be comprehensive. The views expressed are the views of the writer at the time of issue and may change over time. It does not constitute investment advice and/or a recommendation and should not be used as the basis of any investment decision. This document is not an offer document and does not constitute an offer or invitation or investment recommendation to distribute or purchase securities, shares, units or other interests or to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this document.
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Certain funds referred to in this document are identified as sub-funds of First State Global Umbrella Fund, an umbrella investment company registered in Ireland (“VCC”). Further information is contained in the Prospectus and Key Investor Information Documents of the VCC which are available free of charge by writing to: Client Services, First State Investments (UK) Limited, Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB or by telephoning 0800 587 4141 between 9am and 5pm Monday to Friday or by visiting www.firststateinvestments.com. Telephone calls may be recorded. The distribution or purchase of shares in the funds, or entering into an investment agreement with First State Investments may be restricted in certain jurisdictions.
Representative and Paying Agent in Switzerland: The representative and paying agent in Switzerland is BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002 Zurich, Switzerland. Place where the relevant documentation may be obtained: The prospectus, key investor information documents (KIIDs), the instrument of incorporation as well as the annual and semi-annual reports may be obtained free of charge from the representative in Switzerland.
In the UK, issued by First State Investments (UK) Limited which is authorised and regulated by the Financial Conduct Authority (registration number 143359). Registered office Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB number 2294743. Outside the UK within the EEA, this document is issued by First State Investments International Limited which is authorised and regulated in the UK by the Financial Conduct Authority (registered number 122512). Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB number SCO79063.
First State Investments (UK) Limited and First State Investments International Limited are part of Colonial First State Asset Management (“CFSGAM”) which is the consolidated asset management division of the Commonwealth Bank of Australia ABN 48 123 123 124. CFSGAM includes a number of entities in different jurisdictions, operating in Australia as CFSGAM and as First State Investments elsewhere. The Commonwealth Bank of Australia (“Bank”) and its subsidiaries do not guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of the Bank or its subsidiaries, and are subject to investment risk including loss of income and capital invested.