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This is a financial promotion for FSSA India Subcontinent Strategy. This information is for professional clients only in the UK and elsewhere where lawful. Investing involves certain risks including:

  • The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
  • Currency risk: the Fund invests in assets which are denominated in other currencies; changes in exchange rates will affect the value of the Fund and could create losses. Currency control decisions made by governments could affect the value of the Fund's investments and could cause the Fund to defer or suspend redemptions of its shares. 
  • Indian subcontinent risk: although India has seen rapid economic and structural development, investing there may still involve increased risks of political and governmental intervention, potentially limitations on the allocation of the Fund's capital, and legal, regulatory, economic and other risks including greater liquidity risk, restrictions on investment or transfer of assets, failed/delayed settlement and difficulties valuing securities. 
  • Single country / specific region risk: investing in a single country or specific region may be riskier than investing in a number of different countries or regions. Investing in a larger number of countries or regions helps spread risk.
  • Smaller companies risk: Investments in smaller companies may be riskier and more difficult to buy and sell than investments in larger companies.

For details of the firms issuing this information and any funds referred to, please see Terms and Conditions and Important Information.

For a full description of the terms of investment and the risks please see the Prospectus and Key Investor Information Document for each Fund. 

If you are in any doubt as to the suitability of our funds for your investment needs, please seek investment advice.

India

Witness the rise of India with a different perspective 

Learn more

With one of the largest populations in the world and increasing levels of urbanisation, India makes an attractive investment destination for long-term growth.

Aspirational consumer base

Favourable demographics and under-penetrated categories*, lead to well-positioned consumer franchises generating high Returns on Capital Employed (ROCE)**. We believe such dominant franchises will keep gaining market share as the markets formalise as well as premiumise over time.

Infrastructure Improvement

With greater need for better quality infrastructure as the country develops, we believe that suppliers, such as paints and cement companies, will benefit. Well-run companies in these industries typically generate high returns and have low debt compared to infrastructure asset owners.

Financial Inclusion  

We believe well-managed private banks should continue to benefit from greater penetration of financial services across India. They should continue gaining market share at the expense of poorly run and under-capitalised state-owned banks.

Undiscounted change

We believe in paying close attention to changes in management and ownership, in inherently attractive businesses undergoing temporary periods of difficulty. This can often lead to meaningful transformations, generating significant value for shareholders.

*Under-penetrated categories mean categories or products and services that are still not widely used by consumers.
**Return on capital employed (ROCE) is a financial ratio that can be used in assessing a company's profitability and capital efficiency.
 

About the Indian Subcontinent strategy

As one of the oldest stock markets in the world, India offers attractive long-term growth opportunities as the economy continues to develop.

Vinay Agarwal, Director explains why India is an interesting investment destination for long-term growth.

Indian Subcontinent Strategy

Insights

The FSSA team - Vinay Agarwal, Sreevardhan Agarwal and Shivika Srimal – has always found great investment opportunities in the India market, and believe that the pool of investable companies is growing every year. In this note, they share how the investment themes in India have evolved and what excites them as they look ahead to the future.
  • Video
  • 15 mins
In response to recent questions from our clients, we had a conversation with Martin Lau, managing partner and lead portfolio manager for the FSSA Asian Equity Plus and FSSA China Growth strategies.
  • Video
  • 13 mins

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Why FSSA Investment Managers?

At FSSA Investment Managers we believe that to consider the future, you need to understand the past. We believe that preserving capital is the most important aspect of growing it. And we believe that looking at things differently is more important than looking at things too closely. With this distinct perspective, we look to invest in good people running good businesses who can deliver sustainable, long term growth. 

1988 team established

Our history reflects our long-term approach; we look for quality companies that we can buy and hold over time.

Absolute return mind-set

Our investment approach focuses on generating absolute returns for our clients. With every investment we make, we look at the potential downside and not just upside.

20+ investment professionals

Our team of specialists conduct fundamental analysis to find quality companies at sensible prices.

ESG fully integrated

Environmental, social and governance as an analysis is fully integrated into our investment process since the team’s establishment.

Meet the team

Vinay Agarwal

Director

Sree Agarwal

Senior Investment Analyst

Our investment philosophy

FSSA Investment Managers’ investment approach is centred on identifying quality companies, buying them at a sensible price and holding for the long term. 

We look for founders and management teams that act with integrity and risk awareness; and dominant franchises that have the ability to deliver sustainable and predictable returns over the long term.

We are research-driven, bottom-up investors1, carrying out detailed fundamental analysis2 to identify high quality companies to invest in for the long term. We travel extensively to meet with companies to assess the quality of management and their track record of executing long-term strategies; and supplement this with a qualitative and quantitative analysis of the company’s ability to compound growth in excess of the cost of capital.

1. Bottom-up investing is an investment approach that focuses on the analysis of individual stocks and de-emphasizes the significance of macroeconomic cycles.
2. Fundamental analysis is a method of measuring a security's intrinsic value by examining related economic and financial factors.

For more information, please contact us

Investing in Asia

FSSA Investment Managers are specialists in Asia and Global Emerging Markets, managing USD25.8bn on behalf of clients globally (as at 31 December 2023). We are bottom-up investors that use fundamental research and analysis to construct high-conviction portfolios.