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With the potential for long term growth prospects and a track record of resilience through economic downturns, this increasingly institutionalised property sector can be a defensive play for investors.
The ongoing global outbreak of the Coronavirus (COVID-19) pandemic has seen an extensive sell off permeate financial markets as investors grapple with concerns around how the drastic government and central bank responses to the outbreak will augur for global economic growth. The dramatic sell off...
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...
The attributes we like in a company are a strong management team, an effective board, strong alignment with its majority owners and management, a conservative and introspective culture, a franchise which has pricing power and generates superior returns on capital employed, and the potential to be...
Based on the fundamentals heading into 2020, Head of Global Property Securities, Stephen Hayes, expects listed property sector valuations to remain at current levels. Our strategy’s largest exposures are to residential, logistics and office assets.
Modern life seems characterised by extremes, with division and discord the defining features. But, we are living in revolutionary times. Sweeping technological change impacts everything, everywhere. It is an age of accelerated disruption.
The U.S. High Yield market, as represented by the ICE BofAML US High Yield Constrained Index (HUC0) posted a +1.22% total return during Q3’19, on the heels of the particularly strong, +10.16% total return of 1H’19.
This is the third investor letter for the FSSA 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 questions...
Leading global investment manager First State Investments today announced the completion of its sale from Commonwealth Bank of Australia to Mitsubishi UFJ Trust and Banking Corporation, a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), for US$2.7 billion.
This letter forms the first in a series designed to introduce and explain our approach to sustainability, and the lessons learned so far. We hope that these reflections, drawing on the team’s combined experience, will provide a useful insight.
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 t...
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...
Insulation from the effects of inflation is a key objective for many investors. Many pension and sovereign wealth funds specifically target long-term returns of CPI (Consumer Price Index) plus 5%.
The latest instalment of our Travel Diary series comes from Andrew Greenup, who recently spent time in Brazil visiting infrastructure companies, assets, regulators and government bodies. Brazil has many social, political and economic challenges. Infrastructure investment is viewed as part of the ...
It was recently the 10th anniversary of Lehman’s collapse; and in Hong Kong, warning signal ‘Typhoon No. 10’ had been hoisted, as the biggest hurricane-strength storm in recent history battered its way through the territory.
The past decade has witnessed the birth of a new asset class: Global Listed Infrastructure Securities (GLIS). While investors have embraced infrastructure as an asset class since the 1990s, the idea of investing in infrastructure via listed securities was developed by a small number of Australian...
First State Investments has built an impressive track record in the Global Listed Infrastructure asset class. Despite the extraordinary events since its launch in June 2007 – including the Great Financial Crisis, volatile commodity prices, and political upheaval in many parts of the world – the s...
Welcome to First State Investments’ yield report, exploring the potential implications of interest rate increases for seven asset classes across our portfolio of investment capabilities.
In this publication, we review our recent consultant roundtable in Leeds on the impact of The Law Commission’s guidance on fiduciary duty and whether this has shifted the perception of embedding ESG factors. In addition, we have articles on implementing whether smart beta global credit approaches...
The way we work, commute and shop is changing – and how well our cities adapt to these changes determines how fast land values can rise.