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Specialist in Asia Pacific, China, India and South East Asia and Global Emerging Market equities.

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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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At Stewart Investors, we believe in putting people first. Our investment world-view is of a series of partnerships – with each other, with our clients, with the companies we invest in, the people who buy their goods and services, and with the wider society in which we all live and work.

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FSSA Investment Managers

FSSA Investment Managers

FSSA Investment Managers
We are long-term, responsible investors and have fully integrated environmental, social and governance factors into the investment process.

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.

Visit FSSA's website

FSSA Investment Managers is an autonomous team within the First Sentier Investors group, with dedicated investment professionals in Hong Kong, London and Singapore.

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.

Our strategies

Asia Pacific equities

Global emerging markets equities

What are the risks?

Although all investments carry risk, the level of risk is dependent on the type of investment strategy and the underlying investments. Generally, the higher the potential return of an investment, the greater the risk.

The risks of investing in FSSA Investment Managers strategies include:

Company risk

Investment in equities is exposed to risks due to changes in that company or its business environment.

Equities risk

Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes.

Currency risk

For investments in international assets, which have currency exposure, there is potential for adverse movements in exchange rates to reduce their Australian dollar value.

Emerging market risk

Emerging markets tend to be more sensitive to economic and political conditions than developed markets. Other factors include greater liquidity risk, restrictions on investment or transfer of assets, failed/delayed settlement and difficulties valuing securities.

As with any investment, there are no guarantees on the value of the investment or the income generated from it. Investors may get back less than the original amount invested. For a full description of the terms of investment and the risks, please see the Product Disclosure Statement for each fund. If you are in any doubt as to the suitability of our funds for your investment needs, please seek financial advice.

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: With 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 allow 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.

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.

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.

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.

Responsible investment

Our corporate responsible investment strategy is based upon three strategic pillars of quality, stewardship and engagement.

We endeavour to make use of all relevant information at hand, including how companies manage environmental, social and governance issues, and only invest where we perceive the management operates the business effectively and in the interests of all stakeholders. Companies that do not look after their customers, employees, suppliers and the larger community are unlikely, in our view, to be rewarding long-term investments. On the other side of the equation, Responsible Investment also means being responsible owners. When we make an investment, we regard ourselves as buying shares in a real business, with all the rights and responsibilities that this entails. As long-term investors, we engage extensively on ESG matters, particularly where we feel we can add value or can pass on experiences of best practice.

Learn more about the FSSA Investment Managers team's approach to responsible investment

Investment team

The FSSA investment team consists of more than 20 investment professionals based in Hong Kong, London and Singapore.

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. 

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First Sentier Investors became a Certified B Corporation in November 2022 with a score = 107.2, noting that the passing score is 80. Please visit the B Corp Directory to view our report and for additional information regarding the assessment process.

Material on this website is intended to provide general information only. This material has been prepared and issued by First Sentier Investors (Australia) IM Ltd (ABN 89 114 194 311, AFSL 289017) (FSI AIM), and includes the Financial Services Guide for FSI AIM.

This material does not take into account your objectives, financial situation or needs. Before making an investment decision you should consider the information on this website and the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the relevant fund, issued by either Colonial First State Investments Limited (ABN 98 002 348 352, AFSL 232468) (CFSIL) or The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235150) (Perpetual) and assess whether the fund is appropriate given your objectives, financial situations or needs. If you are unsure about whether a fund is suitable for your objectives, situation or needs, you should consult a financial adviser.

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Copyright © First Sentier Investors (Australia) Services Pty Ltd 2024 (part of First Sentier Investors, a global asset management business. First Sentier Investors is ultimately owned by Mitsubishi UFJ Financial Group, Inc MUFG).

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