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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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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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Showing 1 to 34 of 34 results.
Given that the world is closing in on the second-longest economic expansion in history, the current bull market is not so surprising. However, we have been ever mindful of the signs of market euphoria and the growing risks to capital preservation.
In this update, we look at several companies where we have seen a number of positive changes and have initiated a small stake in.
Imperfect companies in India - we find faults in our portfolio holdings and explain why we still consider them to be good investments.
In this latest update on Asia Pacific equities, we provide some insights into our current portfolio positioning and a performance review of the regional Asia Pacific funds.
Podcast: Coronavirus - Asian markets corrections and resilience
China, whose market was the first to suffer the ramifications of the Covid-19 crisis, is now slowly recovering and resuming back online. Tune in to a panel discussion with FSSA Greater China Strategy’s investment team.
With almost two decades of experience researching Indian equities, Vinay Agarwal, Director, has witnessed how the Indian market has evolved over the years.
In this second episode, we continue our conversation with Vinay Agarwal, Director of FSSA Investment Managers.
Leading global investment manager, First Sentier Investors (FSI), today announced the outcome of a review of its existing investment capabilities against its strategy.
Trade tensions have continued to rattle the market, as negotiations between China and the US remain mired in strife. The bilateral trade account and the extent of China’s willingness to open up its domestic market are among the primary areas of contention, along with accusations of forced technology transfers and lack of protection on intellectual property rights.
“Without art, the crudeness of reality would make the world unbearable.” George Bernard Shaw
It has been 40 years since Mr Deng Xiaoping embarked on his ambitious market-based reform program and began to open up China’s economy. Since then, China has been transformed; while there have been stops and starts on the way, China was one of the fastest-growing countries in the world over the past four decades, averaging 10% growth a year.
“ 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
Over the last few years, valuations have generally become expensive in our universe of quality companies. Valuations reaching these levels remind me of the mistakes I made running into the 2008 crash.
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 long-term investment case for Indian equities.
People are are at the heart of our success as a leading global asset manager
Learn about investing in the world's fastest growing markets with FSSA Investment Managers. We invest in high quality equities that outperform over the long term.
First Sentier Investors are the world-leading provider of specialist investment capabilities. Discover how we provide research-led active investment management.
The attributes we like in a company are a strong management team, an effective board, strong alignment with its majority owners and management, a conservative and introspective culture, a franchise which has pricing power and generates superior returns on capital employed, and the potential to become a bigger business over time.
“Industry is best at the intersection of science and art.” Edwin Land, co-founder of Polaroid
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 made over the period, this annual migration is said to be the largest concentration of people movement in the world.
“To infinity...and beyond!” Buzz Lightyear, Toy Story
2024 was a year marked by global inflation and economic growth concerns against a backdrop of worldwide elections. As we head into 2025, volatility will remain an enduring constant.
China’s e-commerce and online services were among the few bright spots against the dismal economic backdrop this year. Many companies reported a surge in online sales during Covid that has remained elevated even as the number of cases fell and lockdown measures eased. While sales at China’s bricks-and-mortar retailers fell by 19% over the first quarter, online shopping grew by 6% over the same period.
Investors, regulators and markets have an obligation to address modern slavery risks as a key aspect of their ESG obligations.
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 any questions or feedback, we would appreciate hearing from you.
“Freedom is always the freedom to think otherwise.” Rosa Luxemburg
2024 was a good year for global listed infrastructure. Strong earnings for energy midstream and a step-change in the earnings growth outlook for utilities helped the asset class to shrug off rising bond yields and political uncertainty.
In 2020, one group of companies has done particularly well – the popular digital technology companies focused on e-commerce, delivery and entertainment, to name a few industries. In emerging markets, they dominate the Chinese market; but they can also be found in Korea, Southeast Asia, Eastern Europe and Latin America. We do not own many of these in the strategy; and as such, we are often asked: What holds us back? After all, they have performed well and – at least on paper – should have the prerequisite to generate strong returns and free cash flow, given their often high gross margins, negative working capital profiles and asset light nature. While we are not disputing the potential for this in the future, we would argue for cautiousness on most of these projections.
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 Global Listed Infrastructure sector.
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