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Learn about investing in the world's fastest growing markets with FSSA Investment Managers. We invest in high quality equities that outperform over the long term.
The Sustainable Finance Disclosure Regulation (SFDR) requires asset managers to report on up to 20 Principal Adverse Impact (PAI) indicators. PAIs are the negative impacts caused by a firm or an asset on the environment and society.
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.
This article focuses on three of the PAIs related to Biodiversity Areas, Emissions to Water, and Hazardous and Radioactive Waste. Each PAI provides details about the measures, some of the challenges related to them, and how investors may use the information they provide.
In 2025, First Sentier Group published our inaugural integrated Climate and Nature Report — an important milestone in our responsible investment journey.
Global investment manager, First Sentier Investors, today announced changes to its investment capabilities within Australia.
This paper outlines the responsible investing approach adopted by various First Sentier Investors investment teams across the globe. It involves a holistic way of thinking that addresses multiple impacts across multiple environmental, social and governance (ESG) measures. We believe it can lead to better long‑term financial and sustainability outcomes, across more measures, than more traditional frameworks.
First Sentier Investors recently presented at the Responsible Investment Association Australasia (RIAA) annual conference and hosted a design lab on how responsible investors can shape the future of Electric Vehicles (EV). 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.
First Sentier Investors has today announced it will apply to list its first Exchange Traded Fund (ETF) on the ASX, the First Sentier Geared Australian Share Fund Complex ETF (ASX: LEVR), which is expected to commence trading mid-May 2025.
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 foundations of our economy, society and life itself, impacting humankind’s food security and access to clean water and air.
We are entering a new era. The year 2024 will be unpredictable and clouded by many uncertainties. It will be marked by geopolitical risks, the ongoing taming of the inflation beast, and how the US Presidential election will impact markets.
Discover how our equity managers with one of Australia's longest track records provide capital and income growth by investing in the Australian share market.
Mergers and acquisitions activity within the global listed infrastructure asset class has been strong in 2025 and looks set to continue.
2024 was a year marked by global inflation and economic growth concerns against a backdrop of worldwide elections. As we head into 2025, volatility will remain an enduring constant.
The global political economy is rapidly evolving. The rules, norms and institutions that govern interactions between nation states are being upended, and the nature of capitalism is changing again. Having evolved in the past from laissez‑faire to Keynesianism to free market neoliberalism, it is now turning to nationalism with more state intervention.
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.
Recently I attended the largest US utility conference, the 2024 Edison Electric Institute (EEI) Financial Conference, in Hollywood, Florida. I met with management teams from 26 regulated electric and gas utility companies.
Rebecca Sherlock, Portfolio Manager Global Listed Infrastructure, sat down for a fireside chat with Brian Savoy, Chief Financial Officer of Duke Energy, one of the largest regulated utilities in the United States.
For over twenty years, the global listed infrastructure asset class (GLI) has consistently generated dividend yields in the 3%-4% range. As valuation multiples have declined in the past few years, dividend yields have expanded into the upper half of this range.
AI and data centres are reshaping electricity demand, creating both powerful growth opportunities and complex challenges for utilities. In this video interview, Rebecca Sherlock, Portfolio Manager Global Listed Infrastructure, speaks with Brian Van Abel, CFO of Xcel Energy, on how they are responding to this shift.
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.
With the FIFA World Cup excitement building, First Sentier Investors’ Dushko Bajic takes on the role of manager in this special edition of Buy Hold Sell, selecting his ultimate starting XI of Australian stocks.
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.
Pricing power is now a major consideration with inflation is on the rise. Equal consideration needs to be given to the social license of companies to raise prices in line with community expectations.
Airports have seen phenomenal traffic growth as people prioritise travel and experiences in the face of cost‑of‑living pressures.
Over the last decade the electricity sector has been at the forefront of decarbonisation, ahead of transport, industry and agriculture.
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.
Listed REITs are trading at 20–40% discounts to stated net asset value (NAV), while unlisted property trusts continue to report relatively modest write downs and stable valuations. The result is a growing disconnect between “price” and “value” that investors should no longer ignore.
After decades of flat electricity demand for US utilities, the industry is now seeing unprecedented demand as growth in data centers / AI, electrification, onshoring and electric vehicles outweighs energy efficiency gains. One utility executive stated: “Seeing all these customers wanting 24/7 load and willing to pay for it – it is every utility’s dream”.
2024 was a good year for global listed infrastructure. Strong earnings for energy midstream and a step-change in the earnings growth outlook for utilities helped the asset class to shrug off rising bond yields and political uncertainty.
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.
As Australia’s leading liquidity manager, we often find our cash fund offerings compared against bank term deposits. In this piece, we seek to evaluate the relative merits of each of these cash investment strategies, comparing returns from our First Sentier Cash Fund with those of a typical term deposit investor over the past 6 years.
Armed conflict has enormous humanitarian consequences, as well as long lasting economic, social and environmental repercussions. Whilst the Russia-Ukraine conflict is unfortunately far from the only armed conflict globally (the Geneva Academy is currently monitoring over 110 armed conflicts) and there have been a number of conflicts taking place in Ukraine since 2014, the escalation of this conflict in 2022 led to sanctions that were unprecedented in scope and severity at state level as well as for corporates.
Benefits of the rapid recovery of airport and toll road volumes far outweigh the operational issues they now face as a result. We expect higher load factors to compensate for airline capacity cuts, meaning traffic will continue to edge towards 2019 levels. European toll roads have a positive role to play in the decarbonisation of the transport sector, providing both societal benefits and investment return upside.
The impacts of interest rate changes on asset values are well understood by financial markets. Typically, for capital intensive assets such as real estate, the access and cost of capital are important contributors to future operating fundamentals.
Market volatility intensified in March as the escalation of the Iran conflict and disruptions to Middle Eastern oil supply reignited inflation concerns. The sharp selloff in rates eclipsed the growth slowdown narrative that had dominated the early part of 2026.
We crossed six US states meeting over 70 infrastructure management teams as well as customers and suppliers at three conferences. We visited three corporate head offices, several regulators and toured the country’s largest nuclear power plant.
First Sentier’s Dushko Bajic explains why fundamentals still matter, and shares two stocks with massive potential.
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 supply increasingly front of mind, US LNG exporters stand to gain market share, underpinning a further US$50 billion of investment over the next decade. An increased need for natural gas infrastructure will also benefit the broader North American midstream sector.
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.
In the latest episode of Relative Return, Olivia Grace Curran speaks with Ben Samuel, Senior Portfolio Manager, and Kai Van Tang, Head of Credit Research at First Sentier Investors, to explore whether cash has re-emerged as a core portfolio allocation—and what that means in practice.
