In September 2020, First State Investments will officially become First Sentier Investors. Curious?


In September 2020, First State Investments will officially become First Sentier Investors. Curious? Let us explain ……
 
Our change of name is part of a global re-branding program which began in 2019 when First State Investments was acquired by Mitsubishi UFJ Trust and Banking Corporation, a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc.
 
The name change completes our journey towards adopting a single and unified corporate brand name in all markets.

The name First Sentier Investors reflects our heritage and ongoing purpose. ‘First’ references our strong and successful heritage as First State Investments, while the word ‘Sentier’ means path - which reflects our commitment to creating our own way forward, thinking about the future and investing responsibly over the long term for the benefit of our clients and the communities in which we invest. Our new Chinese name also reflects our heritage by maintaining the character 首. We have added the character 源 reflecting that we are a source of investment insight, driven by curious thinking.
 
First Sentier Investors is a stand-alone asset management business and the home of investment teams Stewart Investors, FSSA Investment Managers and Realindex. There is no change to the branding of these investment teams.
 
While our corporate brand name will change, our distinctive investment approach will not. All our investment teams – whether in-house or individually branded - are united in an ongoing, common purpose and shared principles.
 
At the heart of all that we do is curiosity. It's what shapes our investment philosophies, guides our investment processes and drives our distinctive approach to investment management. By asking the challenging questions today, we're working to give you a more confident tomorrow.
 
At First Sentier Investors, we look forward to continuing our journey of curiosity with you.

Q&A:

A list of expected questions and answers around our rebranding. Please reach out to your relationship manager or email info@firststate.com.hk if you have any further questions.

What is changing?

The brand change is part of a global re-branding programme, which began in 2019 after First State Investments (Colonial First State Global Asset Management in Australia) was acquired by Mitsubishi UFJ Trust and Banking Corporation (MUTB), a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG). At that time, we decided to progress towards a single corporate global brand name in all markets.

For the past 10 months, we have been operating as First Sentier Investors in Australia and will now progressively move to that name across all global markets, with a final transition date scheduled for September 2020.

Why is the brand name changing? Why could you not keep the name First State Investments?

Following our change of ownership to MUFG in 2019, we are taking this opportunity to adopt a single global corporate brand name - providing a unified approach to our brand management globally.

A unified single brand will simplify our brand experiences for both employees and clients, and reaffirms the strengths of our global investment management business, our commitment to our clients and broader stakeholders.

Why are you not rebranding to MUTB/MUFG?

First Sentier Investors operates as a stand-alone investment management business under MUFG ownership, with its own unique brand identity.

Why First Sentier Investors?

When choosing a brand name, there were a number of considerations.

  • We wanted a brand name that reflected core attributes of our personality and business philosophy
  • We wanted a brand name that had a link to our past so we could retain some of our heritage
  • We wanted a brand name that provided a smooth transition from First State Investments
  • We needed a brand name that was available for trademark in all jurisdictions in which we operate
  • We are required to transition to get-up / livery / logo design that is not similar to our current design

First Sentier Investors met all the above criteria.

The name First Sentier Investors reflects our heritage and ongoing purpose. ‘First’ references our strong and successful heritage as First State Investments, while the word ‘Sentier’ means path - which reflects our commitment to creating our own way forward, thinking about the future and investing responsibly over the long term for the benefit of our clients and the communities in which we invest. First Sentier Investors also abbreviates to FSI which provides a smooth transition from our current abbreviation.

Will there be any changes to the investment philosophy, teams, or fund support (any other changes apart from name?)

No. There will be no change to our investment teams or the way these teams manage our client assets. This is a brand name change only to allow us the benefit of operating as a unified global business.

All our investment teams – whether in-house or individually branded – operate with discrete investment autonomy, according to their investment philosophies.

Will there be changes to other brands such as FSSA Investment Managers and Stewart Investors?

There is no change to the branding of investment teams Stewart Investors and FSSA Investment Managers, or to the way these teams manage client assets.

Can you explain the relationship between First Sentier Investors and the investment teams Stewart Investors and FSSA Investment Managers?

First Sentier Investors is a stand-alone asset management business and the home of investment teams Stewart Investors, FSSA Investment Managers and Realindex. There is no change to the branding of these investment teams, or to the way they manage client assets.

Why have some First State funds changed their name to FSSA branded funds? Have these First State funds always been managed by FSSA Investment Managers?

Yes. These funds have always been managed by FSSA Investment Managers and therefore, during this time of brand change, it makes sense to adopt a consistent approach and provide appropriate clarity across our fund range.

By way of background, First State Stewart Asia was established as an investment team in 2015 when the former First State Stewart team was separated into two teams (First State Stewart Asia and Stewart Investors). In July 2019, this investment team was formally rebranded to FSSA Investment Managers.

The market is already struggling due to COVID-19, why did you need to do this now?

For the past 10 months, we have been operating as First Sentier Investors in Australia while continuing to operate as First State Investments across all other global markets. The current macro-economic environment is challenging for almost every business around the world – and undoubtedly COVID-19 has been the over-riding priority for our management team and our employees for much of 2020. That being said, this change is a change in brand name only, with absolutely no impact on our business, our clients or how we manage client assets. Operating under a unified single brand will simplify our brand experiences for both employees and clients and allow us to fully leverage the market opportunities ahead and as we re-emerge from this period.

How will I find your funds on platforms?

Given the corporate brand name change, and the brand change of some First State funds to FSSA branded funds, it is our wish and intention to facilitate a smooth transition and ensure our funds are easily found and identifiable on relevant fund platforms. In addition, as First Sentier Investors is both a home of investment teams and a stand-alone asset management business, we also wanted to ensure that this is clearly communicated within platform listings.

It is our intention that all platforms will have three separate management group listings for the three fund brands - First Sentier Investors, FSSA Investment Managers, Stewart Investors – while maintaining the link to First Sentier Investors. Therefore, the respective fund ranges will be listed under: First Sentier Investors; FSSA IM (First Sentier Investors); and Stewart Investors (First Sentier Investors) across both our Hong Kong Unit Trust (HKUT) and VCC structures.

We will be working with all platforms, over the coming months, to affect this desired change.

To view the full list of fund name changes: HKUT / VCC

Important Information
The information contained within this document is generic in nature and does not contain or constitute investment or investment product advice. The information has been obtained from sources that First State Investments (“FSI”) believes to be reliable and accurate at the time of issue but no representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information. Neither FSI, nor any of its associates, nor any director, officer or employee accepts any liability whatsoever for any loss arising directly or indirectly from any use of this document. This document has been prepared for general information purpose. It does not purport to be comprehensive or to render special advice. The views expressed herein are the views of the writer at the time of issue and may change over time. This is not an offer document, and does not constitute an investment recommendation. No person should rely on the content and/or act on the basis of any matter contained in this document without obtaining specific professional advice. The information in this document may not be reproduced in whole or in part or circulated without the prior consent of FSI. This document shall only be used and/or received in accordance with the applicable laws in the relevant jurisdiction. In Hong Kong, this document is issued by First State Investments (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. In Singapore, this document is issued by First State Investments (Singapore) whose company registration number is 196900420D. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. First State Investment, FSSA Investment Managers and Stewart Investors are business names of First State Investments (Hong Kong) Limited. First State Investments (registration number 53236800B), FSSA Investment Managers (registration number 53314080C) and Stewart Investors (registration number 53310114W) are business divisions of First State Investments (Singapore). First State Investments (Hong Kong) Limited and First State Investments (Singapore) are part of the investment management business of First Sentier Investors, which is ultimately owned by Mitsubishi UFJ Financial Group, Inc. (“MUFG”), a global financial group. First Sentier Investors includes a number of entities in different jurisdictions, operating in Australia as First Sentier Investors and as FSI elsewhere. MUFG and its subsidiaries are not responsible for any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.