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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, China, India and South East Asia and Global Emerging Market equities.
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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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formerly Realindex Investments
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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Team members bring diverse backgrounds and deep experience in both infrastructure and equities markets to our funds.
In this video, Rebecca Myatt Portfolio Manager for the Responsible Listed Infrastructure Fund talks with Paul Angell of Square Mile.
This paper outlines the key challenges for EV acceptance, analyses the rollout of EV charging infrastructure around the world, and considers practical ideas for investors to super-charge the uptake of EV.
Tap into a relatively stable investments in real assets, infrastructure, property and essential services we all rely upon
First State Investments, a leading global investor in infrastructure, today announced the appointment of John DiMarco, CFA, an energy infrastructure specialist, as a director of the firm's expanding direct infrastructure team.
Our Global Listed Infrastructure team combines specialised knowledge and skills with a disciplined investment process to deliver long term capital growth and inflation protected income by investing in the shares of companies around the world that own or operate infrastructure assets.
Demand has remained strong across airports and toll roads globally. This strong demand seems somewhat counter-intuitive to the uncertain economic outlook and significant cost of living pressures throughout the world.
First Sentier Investors are the world-leading provider of specialist investment capabilities. Discover how we provide research-led active investment management.
I recently returned from a two-week, coast-to-coast trip across the United States, talking to institutional clients, pension funds and investment consultants. The mood on the ground is one of caution. Rising inflation and interest rates are on everybody’s mind. A war in Europe and spiking oil prices are creating uncertainty. And the possibility of recession hovers at the edge of conversations. During such a period, it’s easy to wonder if there are any safe ports in the investment storm. In this environment, we believe that infrastructure has an important role to play in portfolios. Investments in assets such as toll roads, airports, railroads, utilities and renewables, energy midstream, wireless towers and data centres show their worth in such times. These types of investments have high barriers to entry, structural growth and strong pricing power, giving them the potential to withstand inflation and generate consistent earnings, regardless of the broader economic backdrop. With this in mind, below are three reasons we believe infrastructure investors may be well-placed to weather the geopolitical storms ahead.
Vaccine rollouts and government stimulus have led to expectations of higher economic growth, inflation and interest rates. This has put pressure on listed infrastructure returns with the asset class significantly underperforming global equities over the past 12 months. But with over 70% of the investible universe able to pass through the cost of inflation to consumers, are these fears overblown? Global Listed Infrastructure Portfolio Manager Trent Koch explains why inflation can be positive for many infrastructure assets and how market uncertainty has created a compelling investment case for the asset class.
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 strategy has delivered strong, consistent returns through a focus on valuation, quality and active management.
Global listed infrastructure companies outperformed both global equities and bonds in 2022. We believe the financial and economic factors contributing to this outperformance may remain in play in 2023.
We recently spent several weeks in the US visiting listed infrastructure management teams, regulators, politicians, industry associations and conducting asset tours. The following paper provides an overview of our findings.
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American Listed Infrastructure (ALI) has seen a significant increase in Merger and Acquisition (M&A) activity. Private market and foreign corporate buyers are paying premiums of 25% to listed markets, often for non-controlling stakes. This M&A illustrates the intrinsic value available to investors in the ALI asset class. We expect M&A will continue for a number of years. This will deleverage balance sheets, reduce equity needs and recycle capital from non-core to core activities, thereby raising the quality of the ALI asset class.
We know we need to pivot our approach if we are to minimise the environmental impacts of our business operations, no matter where our offices are based. In March 2022, we announced a firm-wide target to reduce greenhouse gas emissions across our business operations in line with a target of net zero emissions by 2030 (or sooner).
Please find below our initial thoughts on President Biden's US infrastructure plan and its implications for the Global Listed Infrastructure (GLI) and American Listed Infrastructure (ALI) asset classes.
The global listed infrastructure index¹ gained in the December quarter. A backdrop of positive sentiment and upbeat economic conditions helped more volatile sectors to outperform. Political and regulatory news was also a factor, lending support to US freight rail but weighing on UK utilities and Chinese ports.
As we return to the skies for that first face-to-face meeting, reuniting with family or taking that well-deserved holiday, the airports we pass through will be markedly different to what we knew before. These changes might not be immediately obvious as you pass through security, browse duty-free or board your plane; but the implications are significant for investors
The listed infrastructure sector in North America contains many world leading assets, operated by world class companies. This is captured in our Investment Process, with higher Quality scores for North American firms.
First Sentier Investors, a leading global asset manager and one of the world’s largest infrastructure investors, today announced the appointment of Chris Tehranian as a senior director, distribution, reporting to Bachar Beaini, managing director, Americas.
First State Investments (FSI), a leading global investor in infrastructure, and Energy Capital Partners (ECP), a leading power and renewables private equity investor, today announced that FSI is acquiring a 40% stake in Terra-Gen from ECP. Terms were not disclosed.
Infrastructure in the United States today feels like the opening line of Charles Dickens’ A Tale of Two Cities: “It was the best of times, it was the worst of times”. Many segments of the US infrastructure market are working well while other segments suffer from chronic under-investment. We believe that a large part of this disparity can be explained by differences in funding models and ownership structures. The Global Listed Infrastructure asset class plays a large role in the US.
Our FAQ Guide shares why we have rebranded to First Sentier Investors and the implications this has for our products
First State Investments, a leading global asset manager, today announced the appointment of veteran investment executive Harry Moore to the newly created role of global head of distribution, based in London.
The American Listed Infrastructure (ALI) asset class increased 24% in 2021. The following article provides a review of investment performance and events that impacted the asset class in 2021. It then provides an outlook into the key themes we expect will impact the asset class in 2022.
Our responsible investment strategy is founded on a strong governance framework. A key part of good governance are policies which set clear expectations for our people. Transparency is also an important component of good governance as it allows our clients and other stakeholders to hold us accountable.
Stewart Investors manage equity portfolios, on behalf of clients, in Asia Pacific, emerging markets, global and sustainable investment strategies.
We are committed to fostering an inclusive and equitable culture where diversity can thrive. We believe this will deliver better outcomes for our people, our clients and society, and it is the right thing to do.
Responsible Listed Infrastructure interview - Square Mile and Rebecca Myatt
This Privacy notice relates to First Sentier Investors Australia. We believe protecting your personal information and being clear about what we do with it is a vital part of our relationship with you.
American Listed Infrastructure (ALI) companies provide customers with cleaner and greener services than alternatives Investments by ALI’s railroads, electric and water utilities are reducing carbon emissions, improving safety and increasing customer satisfaction We believe ALI’s sustainability benefits are going to be valued more highly in the future by customers, regulators, politicians and investors
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 asset managers in 2005-2007.
Global Listed Infrastructure declined in the September quarter as a combination of rising interest rates, political interference and equity issuance dampened returns..
First State Investments (FSI), a leading global investor in infrastructure, and Anaergia Services LLC (Anaergia), a global technology leader in recovering value from waste and a unit of Anaergia Inc., today announced that First State Investments has acquired a 49% stake in Anaergia's Rialto Bioenergy Facility (RBF). Terms were not disclosed.
Global listed infrastructure underperformed in 2023 owing to rising interest rates and a shift away from defensive assets. Relative valuations are now at compelling levels. Infrastructure assets are expected to see earnings growth in 2024 and beyond, aided by structural growth drivers.
The quantitative investing universe can be confusing - whether you might have been afraid to ask or yet to discover these terms, we’re here to help.
Each investment team has developed a climate change statement and carbon footprint report. We provide a combined footprint for all listed equity portfolios and individual listed equity team carbon footprints.
Making a difference to the communities where we live, work and invest through philanthropy has been a focus for our business for over a decade. This is also an important part of our corporate value of ‘care’ to societies in which we operate. The First Sentier Foundation is our philanthropic initiative, founded in 2012 and dedicated to building sustainable lives through education.
First State Investments, a leading global asset manager, today announced the appointment of Bachar Beaini as managing director, Americas.
Latest media releases from First Sentier Investors
Learn how we are embedding a culture of responsible investment stewardship to ensure better outcomes both financially and for society in general.
Climate change and global warming pose systemic risks to society and the global economy. It impacts the availability of resources, the price and structure of the energy market, the vulnerability of infrastructure and the valuation of companies.
Our Core Beliefs
We believe that organisations have legal, moral and commercial obligations to respect human rights and remediate any implications on human rights in their operations and supply chains.
Read regular news updates, research papers, investment strategy updates & thought pieces from some of First State Investments leading experts.
We recently spent a couple of weeks in the US and Canada, meeting with management teams from the railroads, utilities and energy midstream sectors, as well as with regulators. Below are some of our findings. We hope you find them interesting.
First Sentier Investors became a globally certified B Corporation (B Corp). B Corp accreditation provides a framework that we can effectively assess our operations and gain assurance that our business is operating to high standards from an environmental, social and governance point of view, as well as to identify areas where we can enhance and improve.
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