1. Featured insight

What “Value Up”?!

Whilst valuations of many small and mid-cap companies are questionably high, we are being prudent; and we believe there are a number of reasons why India’s premium is well justified.

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Latest insights

Resilience of the FSSA GEM Focus strategy in the event of a developed markets slowdown

In the FSSA GEM Focus strategy we own high-quality businesses which have competitive advantages such as strong brands, distribution advantages, cost leadership, or simply providing a service/product that customers cannot live without. Historically, this has given them pricing power and the ability to preserve margins despite adverse headwinds.
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  • 5 mins

China Equities: Back in the doldrums?

After Chinese stocks rallied upon the abrupt end to pandemic lockdowns in late 2022, pessimism has taken hold of the markets again. This time, concerns include the uneven post-Covid recovery, the lack of stimulus and weak external demand.
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  • 10 mins

Investing in great businesses

One of the true competitive advantages we believe we have at FSSA is a genuine long-term investment horizon. For us, investing is not about trying to predict which stocks will rise or fall next month or quarter; rather, it is a non-speculative activity aimed at participating in the long-term value creation we believe the best companies can generate.
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  • 6 mins

An essay on not investing

As the saying goes, those who stand for nothing, fall for everything. And so it is that we believe there isn’t a price for every business. Most are better left alone in the interests of sleeping better at night. Staying disciplined to our process means erring on the side of caution and avoiding companies where we have lingering suspicions about the governance practices.
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Moving forward on ESG

At FSSA, we are long-term, bottom-up investors with a focus on quality. This mind-set also applies to how we engage with companies on Environmental, Social and Governance (ESG) matters.
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  • 5 mins

Back to reality for Asian markets?

Looking back (though it’s not like we didn’t already know), it is clear that we have been living in an increasingly distorted world. Financially, for the last decade, it has been about interest rates falling to (and staying at) zero in a world of general money printing.
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  • 10 mins

Meeting companies amid China’s post-Covid rebound

Following on the FSSA China Growth strategy’s 30th anniversary, we sat down with our China portfolio managers Martin Lau, Winston Ke and Helen Chen to respond to recent questions from investors. In this Q&A, they discuss market valuations, inflation, geopolitics and recent company visits.
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  • 8 mins

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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  • 8 mins

China equities: Keeping a long-term view

In the final article of this three-part series, Martin Lau, managing partner and lead portfolio manager of the FSSA China Growth strategy, discusses the importance of keeping a long-term mindset and valuation discipline as the strategy celebrates its 30th anniversary this year.
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  • 8 mins

China equities: Quality and patience go a long way

In the second article of this three-part series, Martin Lau, managing partner and lead portfolio manager of the FSSA China Growth strategy, discusses the importance of keeping a long-term mindset and valuation discipline as the strategy celebrates its 30th anniversary this year.
  • Article
  • 8 mins