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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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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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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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Showing 1 to 31 of 31 results.
With geopolitical events dominating 2016, emerging markets debt once again proved resilient under stress, rallying strongly after a steep sell-off in november.
Our emerging market debt team provide a review of the first quarter of 2014, including an update on the global environment and market-drivers for emerging market debt in 2014.
emerging market (em) debt returned 0.5% (in us dollar terms) in july reflecting income. the risk premium on em debt increased over the month, with the spread on the index rising to 367 basis points (bps). the yield was virtually unchanged at 5.8%, while us 10-year treasury yi...
First Sentier Investors are the world-leading provider of specialist investment capabilities. Discover how we provide research-led active investment management.
Government fiscal and debt metrics are strong but pro-growth fiscal policy risks deterioration. at the point they are forced into using fiscal buffers, the market will have repriced the risk sharply.
Infrastructure now commands attention from institutional investors globally, however, investors continue to grapple with a shortage of high-quality information. This Infrastructure Insights Series seeks to close this information gap.
The U.S. High Yield market, as represented by the ICE BofAML US High Yield Constrained Index (HUC0) posted a +1.22% total return during Q3’19, on the heels of the particularly strong, +10.16% total return of 1H’19.
In january, our asia fixed income team provided an outlook for the asset class in 2020. since then, developments associated with coronavirus have dominated attention and affected sentiment towards financial markets worldwide. in this update, jamie grant, head of emerging market and...
It was recently the 10th anniversary of Lehman’s collapse; and in Hong Kong, warning signal ‘Typhoon No. 10’ had been hoisted, as the biggest hurricane-strength storm in recent history battered its way through the territory.
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 as...
As it turns out, the first half of 2018 was challenging for many financial markets in general, and many fixed income markets in particular.
Important information two fund ranges ("the Funds") for sale: the First State Investments ICVC and the First State Global Umbrella Fund plc
This is the third investor letter for the fssa 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...
It was John Templeton who famously skewered that old bull market hubris: “It’s different this time,” as the four most expensive words in the history of investment. But, it is different this time, isn’t it? Well, yes and no. The combination of all-time low interest rates, massive money printing an...
First State Investments has built an impressive track record in the Global Listed Infrastructure asset class. Despite the extraordinary events since its launch in June 2007 – including the Great Financial Crisis, volatile commodity prices, and political upheaval in many parts of the world – the s...
The U.S. High Yield market, as represented by the ICE BofAML US High Yield Constrained Index (HUC0) posted a +2.6% Q4’19 total return (‘TR’), and a +14.4% total return for the full-year 2019. The strong 2019 represented the fourth best annual return since the post-GFC recovery in 2009; modestly t...
In this paper we explore why judging a manager on their underlying skill is a better measure than purely focussing on their past investment returns.
The first quarter was extreme in the scale and magnitude of financial market volatility, particularly over the last six weeks of 1Q’20. A dramatic, global economic slowdown resulted from the unprecedented global quarantine of entire populations, in most developed countries, in response to the COV...
In this Q2 2019 Quarterly Update we review the increasingly dovish attitudes adopted by central banks and the “whatever it takes” commitment to monetary stimulus, the general high yield market, our portfolio positioning and the top contributors and detractors from our five High Yield Fixed Income...
Although financial types everywhere seem to believe that things are absolutely dire, world-ending and the sky is about to fall on our heads, most of humanity have better lives now than in all of history. That is certainly so in the developed world. Prosperity, in our time, has yet again been unde...
Fear can often be an extremely powerful motivator, particularly in the investing world. the secular trends of falling yields combined with increasing interest rate risk, or duration, have certainly struck fear into the hearts of fixed income investors around the world (see below).the first chart ...
Insulation from the effects of inflation is a key objective for many investors. Many pension and sovereign wealth funds specifically target long-term returns of CPI (Consumer Price Index) plus 5%.
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 be...
The U.S. High Yield market, as represented by the ICE BofAML US High Yield Constrained Index (HUC0) posted a +1.22% total return during Q3’19, on the heels of the particularly strong, +10.16% total return of 1H’19.
This letter forms the first in a series designed to introduce and explain our approach to sustainability, and the lessons learned so far. We hope that these reflections, drawing on the team’s combined experience, will provide a useful insight.
All of us have been brutally confronted by a new reality in the last few months. it has certainly been crude, with financial markets swinging around on a riptide of greed and fear, as we the participants have vacillated between elation and despair. it is not surprising. life and the wo...
The past decade has witnessed the birth of a new asset class: Global Listed Infrastructure Securities (GLIS). While investors have embraced infrastructure as an asset class since the 1990s, the idea of investing in infrastructure via listed securities was developed by a small number of Australian...
It seems to us that global central banks (“GCBs”) have repeatedly made it clear that “sooner or later” is meant to encapsulate “being early.” While the wisdom and efficacy of nearly two decades of unprecedented monetary stimulus by the GCBs is open to debate, its effect on financial asset prices ...
In our last client update, written through the depths of covid-despair, we observed that real life and the world of markets are seldom so intimately entwined. with markets swinging violently to the downside on a riptide of fear, it was clear even then that activity was being driven ...
FSSA Investment Managers, Indian equities, Road to Recovery
In general, global corporate bonds posted positive total returns during the third quarter of 2018.
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