1. Featured insight

Client update: A fast thaw after a long winter

China equities have rebounded sharply since early November as the Covid Zero policy drew to a close. If we look back over the past decade, the last two years presented the most difficult stretch for us as China equity investors.

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Quality at any price?

Last year, we wrote about the bubble we were witnessing in the initial public offerings (IPOs) in India. Now, we see a different type of bubble forming – in these cases, the business is often a proven one, with a strong track record and high return profiles.
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India’s economic resurgence amidst the turbulence

Over the past decade, India has had its fair share of crises and reforms. Despite all that, India’s structural growth story remains unchanged, and it is now the fifth largest economy in the world. What does the next decade have in store for India?
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Fear of missing out

That would perhaps be an accurate description of what drove some of my portfolio decisions as a young fund manager, roughly 15 years ago during the global financial crisis (GFC) meltdown.
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India Monthly Manager Views - April 2022

After a recent meeting in Mumbai with the top management of Mahindra & Mahindra (M&M), we came back with a clear message – M&M’s commitment to its purpose does not mean that it will continue to operate loss-making businesses.
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Positioning for resilience in volatile times

FSSA Investment Managers has been investing in Asia and global emerging markets for three decades. We are conservative investors, and resilience during market sell-offs has underpinned our long-term performance.
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India Monthly Manager Views - February 2022

We have just returned from India – the first investment research trip in India for our entire team in over two years. It was a liberating break from constantly hearing “You’re on mute!” on video calls whilst simultaneously being forced to appreciate your kids’ music lessons in the adjoining room.
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India Monthly Manager Views - January 2022

Land, Labour, Capital and Entrepreneurship. These are the well-known “Factors of Production” as defined by classical economists. The Entrepreneur (or Company) is the one that combines these factors to earn a profit.
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India Monthly Manager Views - December 2021

50x P/E! 70x P/E! 100x P/E! Valuations that were outrageous just a few years ago are commonly bandied about by most of the investment community these days. But, ask any respected business owner and they would shake their head in disbelief. The difference in perspective is critical.
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