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

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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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Leader in systematic equities across market cap weighted indices, smart beta and active quantitative strategies

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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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Multi-Asset Solutions

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Strategy Overview

Key Facts

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* This is an annualised interest rate from the past seven days. For actual performance for our Cash Funds, please view the performance page.
is recognised as a Responsible Investment Leader 2021 by the Responsible Investment Association Australasia (RIAA). This acknowledges our commitment to responsible investing; our explicit consideration of environmental, social and governance factors in investment decision making, our strong and collaborative stewardship; and our transparency in reporting activity, including the societal and environmental outcomes being achieved.

We invest for purpose

Markets are constantly moving – and when conditions change investors must rethink their asset allocation.

Our flexible and dynamic approach draws on a global opportunity set to meet the multiple, often competing objectives of our clients. The goal is to tie all investment decisions to the ultimate objective of the portfolio.

Time has shown that asset allocation decisions are the dominant driver of overall portfolio returns and multi-asset investing provides risk and return benefits that are not typically achievable by investing in a single asset class. 

Flexible

Asset allocation can be a rigid process, but for objectives-based investors like us, flexibility allows us to respond to changing market conditions and steer our portfolios towards objectives.

Dynamic

Most investors have goals across several time horizons and rather than rely on theoretical long-term assumptions, we aim to take advantage of shorter-term investment opportunities by dynamically shifting exposures.

Disciplined

Blending qualitative insights with the discipline of quantitative underpinnings, our evidence-based approach has operated for more than 23 years.

Our multi-asset offering for institutional investors

Our diverse clients around the world have a wide variety of investment goals and challenges to solve.

Built off a consistent investment approach and research engine, we offer bespoke investment solutions across the continuum of styles demanded by our clients, from more traditional asset allocation through the investment spectrum to benchmark-unconstrained, absolute-return strategies.

Objective-based portfolio management

Objective-based investing seeks to overcome the limitations inherent in a traditional balanced (e.g. 60/40 growth vs. defensive assets) approach. A particular outcome is targeted through a bespoke investment strategy, designed to reflect a client’s interests in terms of ambition and risk, and adopts an absolute-return mindset.

We make investment decisions with the ultimate goal of consistently delivering a particular objective or multiple objectives, while minimising the chance of failure to meet objectives. 

Implemented solutions

Implemented solutions are investment products designed and overseen by the Multi-Asset Solutions team. These are implemented in-house in collaboration with our global capability set offered globally across asset classes.

Examples include the following:

  • Traditional ‘balanced’ funds managed to a strategic asset allocation
  • Thematic portfolios
  • Inflation protection and risk reduction strategies
  • Lifestyle/lifecycle modelling with ‘targeted benefit’ approach
  • Diversified portfolios of alternativesObjective-based portfolio management

Advisory services

Advisory services are activities performed that involve providing advice and sharing the intellectual property of the team.

Examples include the following:

  • Providing asset allocation and risk management advice
  • Ensuring sufficient funding of pension or insurance liabilities
  • Meeting spending objectives or income needs
  • Incorporating tailored notions of risk and ways to de-risk
  • Providing market intelligence and implementation guidance
  • Testing investment ideas using our proprietary tools
  • Sharing research papers and topical market updates

Our asset allocation moves with markets

The foundation of our portfolios, our neutral asset allocation, takes a long term view on economies, markets and expected returns across asset classes. While neutral asset allocation alone will be the dominant driver of returns, there is also opportunity to mitigate portfolio risks and generate additional returns as market conditions change. We supplement our long term neutral asset allocation with dynamic asset allocation, which exploits shorter-term market inefficiencies. 

How our portfolio works

Neutral asset allocation

Neutral asset allocation

The ‘neutral’ asset allocation is the mix of investments that we believe has the highest likelihood of achieving a given portfolio’s long-term objectives based on fundamentals. The first step in our investment process is determining the economic outlook, both globally and for individual countries.

Using current valuations as a starting point, key economic variables including GDP growth, inflation, risk free rates, and long-term bond yields enable us to calculate expected returns for various asset classes. 

Whitepapers and other resources

Investing for purpose

This paper outlines how the Multi Asset Solutions team help clients achieve their investment goals via tailored, risk-managed multi-asset portfolios. Read more. 

Responsible investing in a multi asset context

This paper outlines the Responsible Investing (RI) approach for the Multi-Asset Solutions (MAS) team.

How we are positioned for markets ahead

We explore our forward-looking return expectations and share the latest changes to our asset allocation every six months.

Featured blogs:

Is it time for SAA to consider retirement?

Risk changes, so why is your asset allocation static?

Is your asset allocation working hard or hardly working?

Research papers from the Multi-Asset Solutions team

Our experience working with institutional asset owners has given us significant insight and practical appreciation of the challenges investors face. In an environment marked by a combination of low interest rates, low inflation, low to moderate economic growth, and risk-on risk-off investment sentiments, we share our research into techniques and solutions that can help achieve long-term investment objectives.

Volatility as an asset class and dynamic asset allocation

Integrated approach to asset liability management risk budgeting and alpha

Inflation-linked investment objectives with liquid asset portfolios

Target benefit retirement schemes

Liability driven investing: hedging inflation and interest rate risk

Strategic asset allocation

Dynamic asset allocation

Regimes, turbulence and absorption – A new way of looking at risk

Why Multi-Asset?

Multidisciplinary portfolio management

Responsible Investment

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

As global multi-asset investors, we partner with our clients to provide solutions that maximise the probability that they will achieve their investment objectives. We assess our client needs based on three key criteria: risk tolerance, investment horizon and return ambition level. We utilise third party monitoring services for our direct holdings.

Learn more about the Multi-Asset Solutions team's approach to Responsible Investment

Meet the Multi-Asset Solutions team

Epco van der Lende

Co-Head of Multi-Asset Solutions

Kej Somaia

Co-Head of Multi-Asset Solutions

Jan Baars

Senior Portfolio Manager

Andrew Harman

Senior Portfolio Manager

Read our latest insights

Road to recovery or path of potholes?

As the curtain closes on another year of surprises, investors are hoping for smoother sailing next y...

16 December 2021
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Regimes, turbulence and absorption – A new way of looking ...

Over time financial market relationships evolve and change. These changes, or shifts, can have signi...

06 December 2021
Article
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Diamond hands forever

We recently reviewed the Neutral Asset Allocation (NAA) for the First Sentier Multi-Asset Real Re...

30 November 2021
Article
5
Mins
View all our latest insights

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On 16 September 2019, Colonial First State Global Asset Management (CFSGAM) rebranded to First Sentier Investors. Any content produced prior to this date that references CFSGAM or Colonial First State Asset Management (Australia) Limited should be read as references to First Sentier Investors or First Sentier Investors (Australia) IM Ltd.

Material on this website is intended to provide general information only. Such material does not into account your objectives, financial situation or needs. You should consider these matters before acting on the information and consider the relevant Product Disclosure Statement for any product named on this website before making an investment decision.

Total returns for the Funds have been calculated using exit prices after taking into account all ongoing fees and assuming reinvestment of distributions. No allowance has been made for taxation. Past performance is no indication of future performance.

The target market determination (TMD) for any fund mentioned on this website is available HERE and should be considered by clients or prospective investors prior to making a decision to invest to ensure that they form part of the relevant target market.

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