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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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Asian Fixed Income

Asian Fixed Income

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Strategy Overview

Key Facts

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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: First Sentier Investors Global Growth Funds (Singapore Unit Trust / Authorized Scheme) / First Sentier Investors Global Umbrella Fund (IRISH VCC / Recognized Scheme).

Fund performance data is sourced from First Sentier Investors. Single pricing basis with net income reinvested. The above performance data is provided for information only and does not contain or constitute investment advice. A copy of the Prospectus is available and may be obtained from the Manager, First Sentier Investors (Singapore), or any of our distributors. Investors should read the Prospectus and consult a financial adviser before deciding to make any investment. In the event of discrepancies between the marketing materials and the Prospectus, the Prospectus shall prevail. The value of the Fund and the income from them, if any, may fall or rise. Past performance of the Fund or the Manager and any economic and market trends or forecast, is not indicative of the future or likely performance of the Fund or the Manager. Neither the Manager, nor any of its associates, nor any director, or employee accepts any liability for any loss arising directly or indirectly from any use of this information. Units are not available to U.S. persons.

Opportunity within fast growing and diverse economies

Having witnessed an unrivalled transformation and expansion over the last decade, we believe Asian markets are set to become the economic engine of the world. 

Investors have the opportunity to benefit from this increasingly diversified asset class, with ample liquidity and volatility akin to that of developed markets. 

Successfully immersing ourselves in the markets in which we invest

Seasoned investment professionals

Due to the ever-changing landscape of the Asian Fixed Income opportunity set, the idiosyncratic nature of constituent markets, and the rapidly expanding Asian corporate market, a successful team needs to be immersed in the region; locally-based with significant tenure.  We’ve been successfully managing Asian Fixed Income since 1999, and our seasoned investment managers locally based in Hong Kong, Singapore and Sydney, have significant experience investing throughout the market cycle.

Expert research and a disciplined investment process

Our research process is forward looking, disciplined and a core component of our robust and repeatable investment process. We consider both top down (macro) and bottom up (country specific) factors. Risk management is at the heart of what we do, and one that permeates every stage of our investment process. We believe our teams’ experience of investing through market crises proves invaluable in this respect.

Truly integrated approach to ESG

With more than 10 years of comprehensive ESG integration into our research process, we understand how vitally important these factors are when investing in Asian credit. ESG considerations are critical in the assignment of internal credit ratings to issuers.

Our difference

A proven and differentiated investment philosophy:

We consider risk management as key to our philosophy, and one that permeates every stage of our investment process. We follow a prudent investment approach which aims to achieve consistent income generation and risk-adjusted returns. Country selection reflects the output of our Asian markets assessment which includes quantitative and qualitative analysis. Duration and yield curve management reflect our thematic, factor based approach.

Consistent long-term performance track record:

Positive risk-adjusted returns generated over 3-5 year time horizons.

World-class ESG integration:

We have a vigorous Environmental, Social and Governance (ESG) process that is built in at both the company and product level. More importantly, ESG risk factors are an important consideration in the assignment of credit ratings on individual issuers.

Multi-dimensional credit research:

Credit research focuses on assessing credit risk and identifying deteriorating issuers. Our analysis considers a variety of risk dimensions, enabling significant breadth.

All positions in our portfolio are backed by research

We are stewards of our clients’ capital, and we take that very seriously. 

We believe that successful fixed income investing requires a deep focus on risk management, given the inherently asymmetric nature of the investments. For this reason every position in the portfolio is backed by in-depth research.  Identifying rating  migration and defaults is as important as finding relative value opportunities. 

Options and Opportunity

Diversification

Offering our clients diversification within their portfolios:

  • To existing Fixed Income exposure
  • To Sovereign Emerging Markets exposure
  • To Investment Grade developed market exposure
Income

Offering our client's the potential for a stable income stream

Growth

Giving clients exposure to corporate credit companies, driving global economic growth

 

Responsible Investment

Our corporate RI strategy is based upon three strategic pillars of quality, stewardship and engagement.

Our approach to investing is driven by a commitment to providing the best possible outcomes over the long term for our clients. The team considers ESG factors relative to their potential impact on financial performance. We believe that ESG issues have a significant bearing on risk.

Learn more about the Asian Fixed Income team's approach to Responsible Investment

Insights from team

Jamie Grant

Head of Emerging Markets and Asian Fixed Income

Nigel Foo

Senior Portfolio Manager

Nicole Hsieh

Senior Portfolio Manager

Adrian Au

Senior Manager / Credit Analyst