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Specialist in Asia Pacific, Japan, 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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In this report, the third of our regular updates on japan equities, we highlight some of the key holdings in the japan portfolio and our investment rationale for purchasing these stocks.
Despite entering a recession, we believe there are still pockets of opportunities in japan. as a matter of fact, sophia li, portfolio manager of the fssa japan equity strategy, argues that some companies benefited from the pandemic and it even accelerated the adoption of thei...
japan has been suffering decade-long economic stagnation. yet, sophia li, portfolio manager of the fssa japan equity strategy, believes that it is a land of growth and opportunities.
Learn about investing in japanese equities with fssa im today. our japan funds invest in high quality companies that outperform over the long term.
The japanese stock market rallied in 2017, surging past levels last seen in the early 1990s. a sustained recovery in global trade, as well as strong domestic sectors and continuous cost rationalisation provided a boost to japanese corporate earnings, which grew at a much stronger pa...
The slow pace of change in japan and the meagre improvements made so far have been a difficult pill to swallow for abenomics supporters. on top of the lack of reform, there is the ageing population, a deflationary environment and negative interest rates to contend with.
In the latest of our travel diary series, global listed infrastructure analyst jessica johnson explores the changing engagement and corporate governance of japanese companies.
Over the past six months, global equity markets have remained weighed down by uncertainty. meanwhile, in japan, prime minister abe’s announcement that consumption tax is set to rise from 8% to 10% this october has escalated fears of a pending recession.
Leading global investment manager, first sentier investors (fsi), today announced the appointment of hideki suruga to the role of head of distribution, japan and representative director for first sentier investors (japan) limited, effective 6 may 2022.
Looking back over 2020, a challenging year for many reasons, there were two key investment decisions that helped the performance of the fssa japan equity strategy.
The first state japan equity strategy invests in a concentrated portfolio of high-quality companies with strong management teams, dominant franchises and conservative financials. as long-term, conservative investors, we seek to invest in companies that have high return on invested capital,...
The japan equity market underwent significant volatility in the first quarter due to the coronavirus pandemic and concerns about its impact on the global economy. the sell-off was indiscriminate and across all sectors, with little differentiation between the higher quality, well-managed co...
2018 was a challenging year for japanese equities. while we usually prefer to talk about the companies we own rather than comment on the market or the economy, it was interesting to note that 85% of trades last year was on auto-pilot, controlled by machines, ctas and quant funds.
“Freedom is always the freedom to think otherwise.” Rosa Luxemburg
Each year around the Lunar New Year, factories in China switch off production and close up shop for the Spring Festival period. Factory workers who had left their rural hometowns in search of better wages in cities travel home en masse for the celebrations. With three billion trips expected to be...
Last quarter i visited infrastructure companies in tokyo, osaka and nagoya. the trip included visits to ten corporate head offices and three site tours. this paper seeks to share some of the key findings from my meetings with japanese passenger rail and utility companies.
A monthly review and outlook of the Global Listed Infrastructure sector.
First Sentier Investors is the new name for First State Investments. We’ve always been renowned for our research-led active management approach. Curious to know more?
“Industry is best at the intersection of science and art.” Edwin Land, co-founder of Polaroid
A monthly review and outlook of the Asian Quality Bond market.
The three key themes driving the Asian credit market’s performance this year have been the US Federal Reserve’s tightening monetary conditions amid record high inflation, negative sentiments towards China especially its zero-Covid policies and global recession concerns.
2023 has thus far been a more upbeat year than 2022 for Asian Fixed Income, with positive returns year-to-date driven in part by the anticipated slowdown in the Federal Reserve’s pace of rate hikes, as well as China’s border re-opening.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
“ Failure is so important. We speak about success all the time. It is the ability to resist failure or use failure that often leads to greater success. ” J.K. Rowling
A monthly review and outlook of the Global Listed Infrastructure sector.
This is the third investor letter for the fssa global emerging markets focus strategy since its launch in november 2017. in this letter, we will discuss our investment approach, process, strategy, positioning, and other matters we think are relevant to investors. as always, should you have...
The cascading impacts of climate change and society’s overexploitation of the land and sea is giving rise to unprecedented devastation of nature and biodiversity. In the last 50 years, there has been a devastating 69% drop in wildlife populations[1]. The unfolding crisis is risking the very found...
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
2023 has not been for the faint-hearted. The euphoric mood from China’s post-Covid reopening that highlighted the start of 2023 revealed its alter ego as the year progressed with a slew of turbulent events, such as the regional banking crisis and Israel Hamas war.
A monthly review and outlook of the Asian Quality Bond market.
“To infinity...and beyond!” Buzz Lightyear, Toy Story
A worried client asked us recently, “Will Mr Modi be re-elected, or won’t he? How will the ongoing elections impact the investment case for Indian companies?” We don’t know whether Mr Modi will be re-elected. But we strongly believe that the results of the election will have little bearing on the...
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Global Listed Infrastructure sector.
A monthly review and outlook of the Asian Quality Bond market.
A monthly review and outlook of the Global Listed Infrastructure sector.
A monthly review and outlook of the Asian Quality Bond market.
This paper asserts that macro towers will remain at the heart of a modern, mobile data communications network despite the continual development of new technologies.
A monthly review and outlook of the Asian Quality Bond market.