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First Sentier Investors

First Sentier Investors (formerly Colonial First State Global Asset Management) operates as a standalone global asset management business following its acquisition by Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), from the Commonwealth Bank of Australia in August 2019.

Since our inception in 1988, we have evolved into a global fund manager with a client base that extends across Asia, Australasia, Europe and North America. We work together across multiple global markets, with more than 800 employees collaborating to achieve our vision to be a world-leading provider of active, specialist investment capabilities.

In addition to First Sentier Investors, our brands include FSSA Investment Managers, Stewart Investors and Realindex. The rebrand to First Sentier Investors will extend to regions outside of Australia, where the business is known as First State Investments, in 2020.

We are known for the independent and focused nature of our investment teams. Each team is comprised of experienced specialists and analysts who set their own investment philosophy and are not constrained by one overarching style or process. We are stewards of our clients’ assets and our long-term investment horizons align with the timeframes of our clients. Our investment teams cover equities, debt, multi-sector and unlisted infrastructure. Many of these teams are market leaders in their sectors with exceptional portfolio management and technical experience.

www.firstsentierinvestors.com.au.

Latest sponsor articles

Why asset allocations shifted due to COVID-19

Retail investors can learn from a multi-asset strategy that looks how macro events and economics affect market and portfolio risk. Major asset allocation changes can occur in response.

Capital retention will shake dividends in 2020

Sixty per cent of the ASX200 total return is due to dividends, and for Financials, it rises to more than 70%. Moves to limit dividends could both reduce investor incomes and affect valuations.

Do sin stocks really give your portfolio the edge?

Should sin stocks, those companies who engage in activities that are considered unethical or immoral, be excluded from a portfolio, or would this compromise potential performance?

Tony Togher on why cash isn’t just cash

An active manager of cash and fixed interest funds can achieve higher returns than the cash rate through a selection of other securities while managing both liquidity and income for clients.

Have bonds reached the end of the line?

Some investors are questioning the role of bonds with such low rates, but they remain an important part of a diversified portfolio for several reasons. Don't give up on them yet.

How ‘residential for rent’ may change Australian housing

Australia has lagged many developed countries in providing top quality rental accommodation owned by institutions, but it is changing, driven by social preferences, affordability and investor needs.

Peter Meany on global trends in infrastructure assets

A global portfolio of infrastructure assets allows trends in one part of the world to be recognised early in another, while companies with pricing power and high barriers to entry enjoy extra resilience.  

Japan diary: Getting up to speed on infrastructure

In this fascinating travel diary, learn how Japan gives investors access to quality infrastructure assets trading at attractive multiples. The country is opening itself up to the world like never before.  

CFSGAM rebrands to First Sentier Investors

First Sentier Investors is the new name for Colonial First State Global Asset Management, completing the separation from CBA. It's the end of an era for the business Chris Cuffe led for 14 years.

Picking the winners, avoiding the losers

In some parts of the market, the case for active management over passive is strong. The less-researched small companies space shows a focus on strong capital, proven management and a clear strategy pays off.

Five myths of listed infrastructure

Many investors assume infrastructure is simply a sub sector of the stockmarket, and will behave as other shares. But the myths fail to recognise the special long-term characteristics that give more resilience.

Budget 2019: more news, views and videos

In our Federal Budget 2019/20 coverage, we present summaries and analyses of the Budget from Cuffelinks' sponsors, including newsletters and videos, plus a summary of Labor's overall strategy.

ESG by new means, to new ends

There is no single and correct way for a company to adopt good ESG practices, but it's clear that major institutional investors are increasingly judging companies by ESG criteria.

In asset allocation, you can have anything but you can’t have everything

Modelling different and complex objectives in an asset allocation is difficult because the goals are often contradictory, but a new technique puts a risk score on each possible strategy.

Risk is the permanent loss of capital

Two tenets of a successful investment philosophy: risk is the permanent loss of capital, and never succumb to either irrational exuberance or unjustified gloom. It takes discipline and strict adherence.

Sponsor White Papers

How to fly guilt-free

Numerous studies point to travel by plane as one of the most emissions-intensive modes of travel. Given this is unlikely to change anytime soon, what is the best way to fly guilt-free?

Analysis of Labor’s dividend imputation proposal

On 13 March 2018, the Australian Labor Party (ALP) announced that if it wins the next election it will amend the imputation system to make excess imputation credits non-refundable from 1 July 2019.

Physical impacts of climate change

Climate change is causing a wide range of physical impacts with serious implications for investors and businesses. While weather variability and extremes have always existed, satellite and other observations show that temperatures are increasing which is causing extreme weather events to become more frequent and intense.

  • 6 December 2018

2018 Responsible Investment Report

Over the past five years, CFSGAM’s approach to responsible investment has focused on its investment processes and long-term risk adjusted financial returns. Pablo Berrutti, Head of Responsible Investment Asia Pacific, says, “We believe climate breakdown has diverse, urgent and complex implications for investors and the companies we invest in.

  • 7 November 2018

American infrastructure exceptionalism

The listed infrastructure sector in North America contains many world-leading assets operated by world class companies. Over US$50 billion in assets are being added to the asset class in the booming North American oil and gas fields.

  • 25 July 2018

Volatility and how we review asset allocations

In the first half of 2018, we saw volatility return to markets, a breach of the much anticipated 3% yield for 10-year US Treasuries, and an agreed summit between North and South Korea.

  • 28 June 2018

A tale of two styles: value and growth

Value investors have generally done well recently while many growth stocks have languished. In this paper, we look at some of the drivers behind recent market moves, including the effect of rising interest rates, earnings disappointments and the subsequent de-rating of growth stocks.

  • 29 March 2018

Make America Great Again: listed infrastructure has a plan

Infrastructure in the US today feels like the opening line of Charles Dickens’ A Tale of Two Cities: “It was the best of times, it was the worst of times”. Many segments of the US infrastructure market are working well while other segments suffer from chronic underinvestment.

  • 22 February 2018

Why sustainability matters for listed infrastructure

The essential service nature and large environmental footprints of infrastructure assets make sustainability considerations a vital part of doing business.

Robots, Artificial Intelligence and the future of jobs

Macquarie University, as part of its Lighthouse Lecture Series, recently hosted a discussion by world renowned labour economist, Professor Richard Freeman from Harvard University on “Employment and Income in the Age of Robots”.

Global listed infrastructure securities: Past, present, future

The past decade has witnessed the birth of a new asset class: Global Listed Infrastructure Securities (GLIS). GLIS is now widely acknowledged as a standalone asset class by asset consultants, investors and the funds management industry.

2017 Responsible Investment and Stewardship Report

CFSGAM’s approach to responsible investment (RI) and stewardship is detailed in this 10th anniversary report, covering the 2016 calendar year.

Travel Diary: Made in Japan

Japan is starting to deliver some volume expansion. Port volumes turned positive for the first time in two years. Rail and airport volumes are robust and will receive a boost from the 2019 Rugby World Cup and 2020 Olympics. Sentiment is lifting and domestic companies are expanding their operations

  • 19 April 2017

Non-concessional cap: Update on proposed changes

The Government has announced it won’t proceed with the lifetime non-concessional contributions cap proposed in the 2016–17 Federal Budget, which would have applied from Budget night and included eligible contributions made since 1 July 2007.

The continuing search for growth

This paper explores the increasing preference for global equities that has occurred since mid-2013, when the Australian dollar fell below parity against the US dollar.

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