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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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FSSA Investment Managers

FSSA Investment Managers

Specialists in some of the world's fastest-growing markets

Driven by fundamental company research, FSSA Investment Managers delve deep into the Asia Pacific region and Global Emerging Markets to invest in high quality companies 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, Singapore and Edinburgh. 

1988

Team established

Our history reflects our long-term approach; we look for quality companies that we can buy and hold over time.

1600

Company meetings

Every year, we conduct approximately 1,600 meetings to understand and engage with companies and their management.

20+

Investment professionals

Our team of specialists conduct fundamental analysis to find quality companies at sensible prices

Key investment themes

FSSA Investment Managers portfolios are built company by company based on our analysis of share price drivers, with little regard for index positioning or how the broader market will perform.  We are focused on growth in an absolute return sense, constructing portfolios of high quality companies that are supported by long-term investment themes.

Long-term investment themes

  • Dominant consumer franchises

    ith favourable demographics and populations that are still growing – particularly in Southeast Asia and India – we believe dominant consumer franchises offer good growth 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 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.

Environmental, Social Governance (ESG): more than just a label

For FSSA Investment Managers, sustainability is not just a label, but a set of values by which we operate.

 

ESG integration

We believe it is essential to integrate environmental, social and governance factors into the investment process. To us, it is not only prudent risk management, it is a fundamental obligation to our clients.

Tackling climate change

Climate change is a key consideration in FSSA Investment Managers’ investment process. We accept the science of climate change and that a transition to a low carbon global economy is underway. We consider it our duty to assess these risks and opportunities in our investment decision-making and ownership practices, and look to invest in companies that are actively taking steps to solve the climate change problem.

As a firm, we have been signatories to the Principles of Responsible Investment (PRI) since 2007 and view this as a minimum standard. We continue to strive to better understand how ESG and sustainability issues can affect long-term investment performance.

It starts with governance

Good governance is the foundation on which great companies are built. We look for management teams that are well-aligned with minority investors and respect all stakeholders – including their customers, employees, suppliers and the community at large.

Responsible ownership

Being responsible investors means that we are responsible owners. We believe it is our obligation to engage with companies where we have concerns about their ESG approach. We conduct around 1,600 company meetings each year and consider each one as an engagement opportunity.

Investment Team

The FSSA investment team consists of 22 investment professionals based in Hong Kong, Singapore and Edinburgh.

We have a distinct culture and team structure, which has contributed to the stability of the team. Around half of our analysts joined as graduates; and the majority of our portfolio managers have been with us for most of their careers.

Our team members come from diverse backgrounds and speak 15 local languages and dialects, which contributes to the quality of research and analysis when meeting with companies. All portfolio managers are, first and foremost, also analysts; and the entire team contribute stock ideas to each of our client portfolios.