We have added FSSA Asia Focus and FSSA Global Emerging Markets Focus to our Recommended List.

The FSSA Asia Focus and FSSA Global Emerging Markets Focus funds have a common investment heritage, both emphasising the importance of preserving capital, engaging actively with companies and investing with a long-term horizon. The team invests with an absolute return mindset, focusing on high-quality companies with sustainable and predictable growth features.

Fund highlights

• The FSSA Asia Focus and FSSA Global Emerging Markets Focus funds are managed by the well-resourced FSSA investment team, which is based in Hong Kong, Singapore and London. Martin Lau, lead manager of FSSA Asia Focus, is a Managing Partner of the firm and has been with the team for more than twenty years. Rasmus Nemmoe is lead manager of the FSSA Global Emerging Markets Focus fund. He joined the team in 2016 and has over twenty years of investment experience.
• The FSSA team operates autonomously within the larger entity of First Sentier Group and is responsible for its own investment approach and decisions. This means that the managers have the freedom to express their investment preferences, including the ability to implement their distinctive approach, which is centred on being responsible stewards of capital and long-term investors in quality companies.
• “Quality” is a pre-eminent factor in the team’s company research. Their high thresholds in this regard are deeply ingrained in their approach, as is their long-standing commitment to assessing environmental, social and governance factors.

Key Characteristics and Expected Outcomes

• The managers do not label themselves as growth, value or core investors. That said, the approach results in portfolios that are larger-cap and high-quality and exhibit a modest growth tilt.
• The funds are not aligned closely to a benchmark, and the team does not concern itself with the positioning or performance outcomes of competitor funds.
• The managers invest with an absolute return mindset, treating risk as the risk of losing client money, rather than the risk represented by deviations from any index. The funds’ risk/return outcomes are likely to be idiosyncratic.
• Typically, we would expect the funds to struggle when the market favours highly cyclical sectors, when lower-quality companies are in vogue, or when the market is driven by high momentum. Their quality bias can be helpful in times of distress.
• The funds are suited to long-term investors who are attracted to the distinctive investment style, together with the sustainability features, and are prepared for an investment journey that is likely to differ from the benchmark.

To view our factsheets, please visit the fund pages (FSSA Asia Focus and FSSA Global Emerging Markets Focus) on our website.