The FSSA Greater China Growth Fund, led by highly regarded Manager, Martin Lau, invests in businesses with earnings mostly from China, Taiwan, and Hong Kong and seeks long term capital appreciation.

The Manager has a disciplined “house” investment philosophy of selecting well-managed businesses with dominant franchises and conservative balance sheets for the long term. Stock selection is key to risk management, with a concentrated portfolio consisting of 45-59 stocks. Turnover has been low at below 20% in the past three years.

As expected of First Sentier (previously First State), the investment decision-making process and stewardship were highly integrated and implemented in practice were given. The ESG process and framework are well developed and integral to the investment process and followed through notably active stewardship.

The Fund has underperformed benchmarks on a one and three-year basis under a highly competitive space where a typical trade-off between volatility and performance is not unusual.

This Fund has been reviewed by three industry veterans of the Benchmark judging committee.