
Specialist in Asia Pacific, Japan, China, India and South East Asia and Global Emerging Market equities.
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Our philosophy is very simple. We are constantly searching for high quality businesses and when we acquire them, we will work relentlessly with them to create long-term sustainable value through innovation, ESG-led and proactive asset management.
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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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- FSSA Investment Managers - Responsible Investment
Approach to Responsible Investment
Stewardship and ESG integration
We are responsible investors and have integrated ESG analysis and company engagement into the investment process. We believe that relevant ESG factors highlight the sustainability of a company’s earnings and could generate a significant impact on investment performance.
We believe quality companies with better ESG credentials will generally merit a higher valuation multiple; conversely, weaker companies may warrant a discount. By evaluating ESG factors, we can assess what might significantly improve or indeed destroy the investment case in terms of future valuations.
On the other side of the equation, being responsible investors means that we are responsible owners. We consider every company meeting as an opportunity to engage with management and we take our ownership responsibilities seriously. We engage extensively with companies to share best practice and influence behaviour on material issues.
Countries visited in 2017 | China, Hong Kong, India, Japan, Malaysia, Nairobi, Singapore, South Korea, Taiwan, Thailand, Vietnam |
Number of meetings | 1645 |
Case studies
We believe that a strong commitment to stewardship is an essential component of a strong approach to responsible investment (RI), and that embedding RI into the core of our investment activities is in the best long-term interests of our clients. For more than a decade we have systematically and progressively improved our practices and processes across our investment capabilities globally.
Proxy voting
Proxy voting rights are an important asset for listed equity investors and exercising these rights is a core part of our stewardship responsibilities. We seek to vote on all possible resolutions at company meetings. Prior to voting, we consider each resolution against generally accepted corporate governance best practice guidelines and, where appropriate, seek to engage with company management before a potential vote against.
In addition, the team retains a selection of independent corporate governance research providers that advise on proxy voting matters, although we retain full control over final voting decisions. Where an issue is controversial or affects multiple portfolios, it will be discussed at team meetings before a decision is made.
Proxy voting history by type of resolution
The table below contains the proxy voting history for the team by issue type. The chart provides the same information for FY2019.
Proxy voting by region
The chart below shows the number of times the team voted in each reason and the percentage of votes against management recommendations, against our proxy advisors' recommendation, or against both. The purpose of this table is to show the regional difference in voting patterns and governance concerns.
Proxy voting information is as at 31/12/2019
Source: First Sentier Investors / CGI Glass Lewis
(Source: First Sentier Investors Responsible Investment & Stewardship Report 2019)
More information
View First Sentier Investors proxy voting record and statistics
Responsible Investment
For over a decade, responsible investment has been integrated into every investment process.
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This website is for institutional investors only.
The website is issued by First Sentier Investors (Singapore) whose company registration number is 196900420D and has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B), FSSA Investment Managers (registration number 53314080C) and Stewart Investors (registration number 53310114W) are business divisions of First Sentier Investors (Singapore).
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