Japan has been suffering decade-long economic stagnation. Yet, Sophia Li, portfolio manager of the FSSA Japan Equity Strategy, believes that it is a land of growth and opportunities.
First State Stewart Asia - Japan Equities Update
First State Stewart Asia - China and Greater China Equities Update
First State Stewart Asia - Asia Pacific Equities Update
The Japan equity market underwent significant volatility in the first quarter due to the coronavirus pandemic and concerns about its impact on the global economy. The sell-off was indiscriminate and across all sectors, with little differentiation between the higher quality, well-managed companies...
FSSA Investment Managers is an independent investment management team within First State Investments. We manage a range of small-, mid- and large-cap Asia Pacific equity strategies on behalf of institutional and wholesale clients globally.
Each year around the Lunar New Year, factories in China switch off production and close up shop for the Spring Festival period. Factory workers who had left their rural hometowns in search of better wages in cities travel home en masse for the celebrations. With three billion trips expected to be...
FSSA Investment Managers - Global Emerging Markets Equities
First State Stewart Asia - Indian Equities Update
“Industry is best at the intersection of science and art.” Edwin Land, co-founder of Polaroid
This is the third investor letter for the FSSA Global Emerging Markets Focus Strategy since its launch in November 2017. In this letter, we will discuss our investment approach, process, strategy, positioning, and other matters we think are relevant to investors. As always, should you have any qu...
Over the past six months, global equity markets have remained weighed down by uncertainty. Meanwhile, in Japan, Prime Minister Abe’s announcement that consumption tax is set to rise from 8% to 10% this October has escalated fears of a pending recession.
2018 was a challenging year for Japanese equities. While we usually prefer to talk about the companies we own rather than comment on the market or the economy, it was interesting to note that 85% of trades last year was on auto-pilot, controlled by machines, CTAs1 and quant funds.
A worried client asked us recently, “Will Mr Modi be re-elected, or won’t he? How will the ongoing elections impact the investment case for Indian companies?” We don’t know whether Mr Modi will be re-elected. But we strongly believe that the results of the election will have little bearing on the...
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 unde...
With a team of dedicated investment professionals, we carry out fundamental research and analysis on companies, industries and regulations across the Asia Pacific region & Emerging Markets.
First State Stewart Asia - Japan Equities Update (Archived previous client updates)