At AlbaCore, we focus on the long-term. As one of Europe’s leading alternative credit specialists, we invest in private capital solutions, opportunistic and dislocated credit, and structured products.
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formerly Realindex Investments
Leader in active quantitative equities across Australian equities, global equities, emerging markets and global small companies.
Backed by a unique blend of research, portfolio construction and risk management, focused on uncovering original insights and translating them into investment strategies that are active and systematic, aiming to generate alpha.
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Specialists in Japan, one of the world's largest markets
Driven by fundamental company research, FSSA Investment Managers delve deep into the Japanese market 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 Japan equity 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. Despite the perception that there is no growth in Japan, our core portfolio holdings have been able to adapt and grow despite economic headwinds, and have delivered sustainable earnings growth and attractive shareholder returns.
The key investment themes for our Japan strategies
“Hidden gems” that are able to grow despite the weak macro
High-quality, dominant franchises can sustain strong and consistent earnings growth without relying on leverage or macro conditions. Often, these companies incorporate some combination of the following characteristics: innovation, disruption, overseas expansion and a strong focus on return on invested capital.
Niche industries with few competitors
In niche sectors with just one or two dominant companies, the leading franchises tend to maintain their market position as there are no significant rivals to compete with. This can lead to sustainably high returns for investors in those companies.
Growing trend of automation
In Japan, the proportion of older, retired people to those of working age is growing. As robots become smarter and less costly, manufacturers have started to automate their processes to address labour shortages and, at the same time, improve efficiencies in the long run.
Dominant consumer franchises
Japanese consumer brands benefit from a strong following in the Asia Pacific region, with Chinese consumers in particular forming a large target market for “Made in Japan” products.
Insights from our team
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