Specialist in Asia Pacific, China, India and South East Asia and Global Emerging Market equities.
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Stewart Investors manage investment portfolios on behalf of our clients over the long term and have held shares in some companies for over 20 years. They launched their first investment strategy in 1988.
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Please read the following important information for FSSA Asia Opportunities Fund
• The Fund invests primarily equity securities or equity-related securities in Asian Region (excluding Australia, New Zealand and Japan).
• The Fund’s investments may be concentrated in a single sector, country, specific region or small numbers of countries /companies which may have higher volatility or greater loss of capital than more diversified portfolios.
• The Fund invests in emerging markets which may have increased risks than developed markets including liquidity risk, currency risk/control, political and economic uncertainties, high degree of volatility, settlement risk and custody risk.
• The Fund may expose to China market risk including repatriation risk, uncertainties to PRC taxation policies and risks associated with StockConnects, QFI, the ChiNext market and/or the STAR board. The Fund may also expose to RMB currency and conversion risk.
• Investing in securities of small/mid-capitalisation companies may have lower liquidity and more volatile prices to adverse economic developments.
• The Fund may use FDIs for hedging and efficient portfolio management purposes, which may subject the Fund to additional liquidity, valuation, counterparty and over the counter transaction risks.
• It is possible that a part or entire value of your investment could be lost. You should not base your investment decision solely on this document. Please read the offering document including risk factors for details.
Prices & performance
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Strategy Overview
Key Facts
Strategy Overview
Key Facts
Source: Lipper, Nav-Nav (with dividend reinvested where applicable)
Acc represents share class with dividends accumulated. M Dist represents share class with monthly distribution of dividends. H Dist represents share class with half-yearly distribution of dividends. Q Dist represents share class with quarterly distribution of dividends. Dividends are not guaranteed and may be paid out of capital. All prices are for indication only. For detail, please refer to the Fund’s factsheet for further details including investment objective & strategy, asset allocation, top 10 holdings, comparison with benchmark (if any) and disclosure.
With effect from 22 September 2020, First State Investments was rebranded to First Sentier Investors. The names of the funds were also rebranded, please view the full list of the fund name changes: Hong Kong Unit Trust (HKUT) / First Sentier Investors Global Umbrella Fund (VCC).
Specialists in Asia-Pacific, one of the world's fastest-growing markets
Driven by fundamental company research, FSSA Investment Managers delve deep into Asia-Pacific markets to invest in high quality equities that can outperform over the long term. We are bottom-up investors and construct high-conviction portfolios that offer our clients exposure to some of the world’s fastest-growing markets.
We are long-term, responsible investors and have fully integrated environmental, social and governance factors into the investment process. To us, sustainability is not just a label, but a set of values by which we operate. We consider it to be prudent risk management and a fundamental obligation to our clients.
FSSA Investment Managers is an autonomous team within the First Sentier Investors group, with dedicated investment professionals in Hong Kong, London and Singapore.
Investment themes
FSSA’s Asia Pacific portfolios are built company by company and from the bottom up, with little regard for index positioning. We are focused on growth in an absolute return sense and construct portfolios of high quality companies with effective management teams, long-term, sustainable growth drivers and strong financials. With low penetration rates for goods and services, and barriers to entry which protect profits and cash flow, the leading companies in the region have a good track record of compounding earnings and creating long-term value for stakeholders.
The key investment themes for our Asia Pacific strategies
Dominant consumer franchises
We believe dominant consumer franchises and brands should benefit from rising incomes and the premiumisation trend, and can offer good growth potential over the long term.
High quality financials
Banks and high quality financials should benefit from similar drivers as consumer businesses: demographics, rising incomes and urbanisation.
Rising healthcare spending
Many countries are under-invested in healthcare compared to the global average. As these economies become richer, we expect healthcare and health-related spending to rise.
A more connected and automated world
As the world embraces a digital future, Asian technology firms should benefit from strong end demand and a growing market. At the same time, lower-cost robots allows manufacturers to automate their processes.
DBS Bank
FSSA Investment Managers has invested in DBS Bank since 2010, engaging regularly with DBS management during that time. This approach allows us to build trusted, long-term relationships with the companies we allocate our clients' capital to.
DBS asked FSSA Investment Managers to review and suggest improvements to their Sustainability Report. In our feedback, we reinforced the importance of good quality reporting and improvements including a report that articulated the Bank's sustainability strategy; explanation of the Bank's initiatives and how they align with the United Nations' Sustainable Development Goals; and improved disclosures on financing projects which may, on the surface, seem to fall short of DBS' commitment to the Sustainable Development Goals.
We believe that this would add to the DBS' credibility on sustainability issues; and made clear that any disclosures they made would be used for internal research purposes, to help us assess the quality of the DBS franchise and the risks associated with various environmental, social and governance challenges.
Disclaimer: Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell the same. All securities mentioned herein may or may not form part of the holdings of First Sentier Investors’ portfolios at a certain point in time, and the holdings may change over time.
Insights from our team
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