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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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Learn about investing in asian equities with fssa im today. our asia funds invest in high-quality companies with the potential to outperform over the long term.
Learn about investing in global emerging market equities with fssa im. our gem funds invest in high quality companies with potential to outperform over the long term.
Learn about investing in the world's fastest-growing markets with fssa investment managers. we invest in high quality equities that can outperform over the long term.
Learn about investing in asia pacific equities with fssa im today. our apac funds invest in quality companies with the potential to outperform over the long term.
Our Core Beliefs
Learn about investing in japanese equities with fssa im today. our japan funds invest in high quality companies with potential to outperform over the long term.
Learn about investing in indian equities with fssa im today. our india funds invest in high quality companies with potential to outperform over the long term.
Learn about investing in greater china equities with fssa im today. our china funds invest in high quality companies with potential to outperform over the long term.
This has been an unprecedented time which continues to evolve from a markets and covid-19 perspective. please tune in to a panel discussion with fssa’s lead portfolio managers: alistair thompson, director; martin lau, managing partner andvinay agarwal, director.
This has been an unprecedented time which continues to evolve from a markets and covid-19 perspective. please tune in to a panel discussion with fssa’s lead portfolio managers: alistair thompson, director; martin lau, managing partner andvinay agarwal, director.
Our investment philosophy is to back owners and managers with whom we feel strongly aligned. these owners typically have track records of treating all stakeholders fairly, in both good and bad times.
Jamie damon will lead north american sales and client servicing for affiliate fssa investment managers, an active emerging markets and asia pacific equity specialist.
The pandemic has accelerated certain long-term shifts in consumer behaviour, such as using more online orders for everything from clothing to food. The latest battleground appears to be groceries, but the disrupter emerged from a not-so-new technology — WeChat groups.
China made headlines for watering down coal reduction targets during COP261, but we think the criticism is unfair. The nation’s own targets set by President Xi Jinping last year — for peak emissions before 2030 and carbon neutrality by 2060 — are still ambitious and noteworthy considering China’s...
The sustainable finance disclosure regulation (sfdr) for the european union mandates the disclosure of the principal adverse impacts (pai) that investment decisions have on sustainability factors.
Leading global investment manager, first sentier investors (fsi), today announced the outcome of a review of its existing investment capabilities against its strategy.
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 brick...
In the first three months of this year, 17 new companies have listed on the mainboard exchanges in India, more than in all of 2019 or 2020*. High levels of retail investor participation and continuing inflows for domestic mutual funds have meant that these new issuances have been lapped up by eag...
2021 will be a year of recovery. This is not surprising given last year’s economic downturn. If vaccines are being rolled out gradually during the year, we believe the economy will recover, especially those sectors that have been hit hard like travel. Hong Kong’s travel sector declined by 99.9% ...
Looking back over 2020, a challenging year for many reasons, there were two key investment decisions that helped the performance of the fssa japan equity strategy. firstly, in the early days of the pandemic we started to identify companies that might benefit from the acceleration of...
Though covid hasn’t yet finished with us, the markets have finished with covid. in real life, there is still plenty of misery to go around, but things have seldom been better for investors. optimism has served us well, as the money printing presses have rolled to counter the “unprecedented” threa...
David allen brings with him more than 20 years of global asset management experience where he specialised in building investment businesses and leading investment teams.
First sentier investors, a leading global investment manager, today announced it has expanded its distribution team in the americas with the appointments of elizabeth altman and chase mazzariello.
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...
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...
fssa investment managers, indian equities, road to recovery
Mutations, it would seem, are not unique to the virus. Starting with some housekeeping, we always end our letters seeking feedback from our regular readers.
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 Eu...
The Japan equity market underwent significant volatility in the first quarter due to the coronavirus pandemic and concerns about its impact on the global economy. The sell-off was indiscriminate and across all sectors, with little differentiation between the higher quality, well-managed companies...
Global asset management group focused on providing high quality, long-term investment capabilities to clients. we bring together independent teams of active, specialist investors who share a common commitment to responsible investment principles.
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.
Looking back the past two decades
Theoretically, a fast-growing economy bodes well for corporate earnings and stock prices, and vice versa. Because of this, investors often cite Japan’s weak economy and deflationary environment as reasons they have been reluctant to invest in Japan. However, the data suggests that these concerns ...
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 by short-term ...
Modern life seems characterised by extremes, with division and discord the defining features. But, we are living in revolutionary times. Sweeping technological change impacts everything, everywhere. It is an age of accelerated disruption.
The cascading impacts of climate change and society’s overexploitation of the land and sea is giving rise to unprecedented devastation of nature and biodiversity. In the last 50 years, there has been a devastating 69% drop in wildlife populations[1]. The unfolding crisis is risking the very found...
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...
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 asia fixed in...
In September 2023, I met more than 30 global listed infrastructure companies and stakeholders from the UK, Europe and China. The following travel diary summarises my impressions and findings from these meetings.
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 world of ...
Last quarter I visited infrastructure companies in Tokyo, Osaka and Nagoya. The trip included visits to ten corporate head offices and three site tours. This paper seeks to share some of the key findings from my meetings with Japanese passenger rail and utility companies.
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 beari...
This paper asserts that macro towers will remain at the heart of a modern, mobile data communications network despite the continual development of new technologies.
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.
The First State Japan Equity Fund invests in a concentrated portfolio of high-quality companies with strong management teams, dominant franchises and conservative financials. As long term, conservative investors, we seek to invest in companies that we believe will have high return on invested cap...
With the potential for long term growth prospects and a track record of resilience through economic downturns, this increasingly institutionalised property sector can be a defensive play for investors.
The energy crisis in europe has boosted global demand for lng. global listed infrastructure companies pioneered the us lng industry, investing us$50 billion since 2010. the energy crisis is providing an opportunity for lng to secure its role as a transition fuel. with reliability and security of ...
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...
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