Investment Insights
FSSA Investment Managers - Asian Growth Update
June 2020
“Without art, the crudeness of reality would make the world unbearable.” George Bernard Shaw
FSSA Investment Managers - Asia Pacific Equities Update
November 2019
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. From politics to trade, all is exaggerated and amplified by social media. Life and society are moving at an ever-faster pace. In the world of finance, the lowest interest rates in our two-thousand-year history have been similarly revolutionary and impactful.
FSSA Investment Managers - Asia Pacific Equities Update
May 2019
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 underwritten by those clever technocrats at the world’s central banks.
FSSA Investment Managers - Asia Pacific Equities Update
August 2018
Since our last letter, there has been more activity in our Asia portfolios than usual. All change; and yet no change. In the real world, despite all the excitable commentary, it is worth remembering that nothing bad or too unexpected has happened. Earnings per share (EPS) growth has, if anything, been better than expected. All seems relatively calm for now, but there is a sense that the macro-plates are shifting. Our absolute returns remain respectable, while the relative gains are ticking along incrementally month-by-month.
FSSA Investment Managers - Asia Pacific Equities Update
November 2017
It was John Templeton who famously skewered that old bull market hubris: “It’s different this time,” as the four most expensive words in the history of investment. But, it is different this time, isn’t it? Well, yes and no. The combination of all-time low interest rates, massive money printing and quiescent inflation is unique. It is different and has rolled on for much longer than we expected.
FSSA Investment Managers - Asia Pacific Equities Update
January 2017
Our general cautious stance and positioning across our Asia Pacific portfolios have not changed very much at all over the last six-to-nine months. In our last review, we concluded that things were about to get messy. Are we now witnessing something of a revolution? In this latest update, we discuss recent ‘surprise’ political events and provide update on our Asia Pacific strategy.
FSSA Investment Managers - Asia Pacific Equities Update
May 2016
In this latest update on Asia Pacific equities, we provide some insights into our current portfolio positioning and a performance review of the regional Asia Pacific funds.